Scheme for â€œPromotion of Medical Device Parksâ€
Scheme for â€œPromotion of Medical Device Parksâ€ is a new scheme notified by the Department of Pharmaceuticals. The scheme aims to support medical devices industry to reach its full potential in the future by providing infrastructure support. The overall outlay for this scheme is Rs.400 crore and its tenure is from FY2020-2021 to FY2024-2025.
The medical devices parks built under this scheme will act as a common infrastructure facilities and reduce the cost of production of medical devices. This will increase the competitiveness of the domestic manufacturers and make medical devices more affordable.