Baid says healthcare product manufacturing backed by robust and coherent policy
Now is the time when India, leveraging the Government support, industry participation and country’s talent pool, will achieve new heights in terms of manufacturing and accessibility of high-quality medical devices, and set new standards for healthcare innovations globally under recently approved National Medical Devices Policy, 2023.
CII Medical Technology Division Chairman Himanushu Baid said this in welcoming the policy. “It lays the groundwork for India’s medical devices sector to become not only self-sufficient but also a global leader, while achieving broader public health objectives of access, affordability, quality, innovation and universal health coverage.
“India, undoubtedly, has the potential, which now is being backed by a robust and coherent policy regime aimed at streamlining regulatory processes, fostering Ease of Doing Business (EODB), adopting global standards, stimulating the development of local manufacturing as well as improved competitiveness for the sector,” said Baid, who is also Managing Director of Poly Medicure Limited.
“It gives me immense pleasure to welcome the Government’s landmark release of the policy, 2023, approved 26 Apr.
The policy will undoubtedly be a significant lift to the industry’s performance in terms of addressing industry’s long-standing concerns and improving manufacturing, innovation, Ease of Doing Business, and competitiveness in a sector that largely remained outside the regulatory ambit until 2017.
The policy is envisioned to help the sector achieve 10-12% share in the global market over the next 25 years as well as growth of US$50 billion by 2030.
It has laid down a holistic framework and a roadmap for accelerated growth of the medical devices sector to achieve following missions viz, Access & Universality, Affordability, Quality, Patient Centered & Quality Care, Preventive & Promotive Health, Security, Research and Innovation and Skilled manpower. fiinews.com
