The Association of Indian Medical Device Industry (AIMeD) and Invest India, on Wednesday, signed a memorandum of understanding (MoU) to transform India into a global medical devices manufacturing hub.
The move is in sync with the government’s ‘Make in India’ mission.
Invest India is the investment promotion and facilitation agency of the government of India.
The MoU was signed by Rajiv Nath, forum coordinator, AIMeD and Deepak Bagla, managing director, Invest India.
AIMeD and Invest India will work jointly to evolve policies and regulatory framework that will help promote manufacturing of medical devices and components in the country.
Rajiv Nath, forum coordinator, AIMeD, said, “We are honoured and delighted to join forces with Invest India to work as their knowledge partners on practical strategies to realize Make in India. This landmark public-private partnership will help India become the top five global hub for medical device manufacturing.”
Deepak Bagla, managing director, Invest India, said, “We look forward to work with AIMeD to bring in investment to the medical devices sector in India and convert India into a global medical devices manufacturing hub.”
According to industry estimates, India imports around 70 per cent medical devices, worth Rs 30,000 crore. The collaboration is to discourage imports and promote manufacturing of medical devices in India.
Source: Media Reports