Cabinet Gives Stimulus to Domestic Manufacturing of Medical Devices

With the COVID-19 pandemic hitting global supply chains, especially of medical products and devices, India is pushing to become a global manufacturing hub.

Highlights of the Cabinet Decision

• Medical Device Parks and Bulk Drug Parks: The Cabinet recently approved incentives for the states for setting up ‘Medical Device Parks’ and ‘Bulk Drug Parks’ across the country to boost domestic manufacturing of medical devices, key starting materials (KSM), drug intermediaries and active pharmaceutical ingredients (API). It will give grants-in-aid to each state, up to Rs 100 crore for each ‘Medical Device Park’ and Rs ....