The central government had published a notification regarding setting up a separate
Export Promotion Council (EPC) for Medical Devices, to boost exports of medical devices. The EPC will assist exporters in promoting their products in international markets through various promotional activities including organizing and participating in international trade fairs, and buyer-seller meets, in line with the foreign trade policy of India. The Council may also organize awareness drives regarding the assistance open for the MSME exporters under various government schemes.
"Based on the detailed considerations in the meetings held by the Department of Commerce (DoC) concerning the creation of an EPC for Medical Devices, and the suggestions/responses acquired from stakeholders in the medical devices sector, approval of DoC, GoI is hereby transferred to the setting up of an EPC for Medical Devices,"
Further, the government stated that it will provide Rs 3 crore initial financial aid, a free office of around 5000 sqft area at the upcoming Medical Devices Park Common Facility Centre (CFC), Greater Noida, and needed secretarial staff. Till the completion of the CFC, YEIDA shall furnish suitable office space in their current building. The regional office at AMTZ, Visakhapatnam will be positioned up by the end of 2023 and the Hyderabad one by end of 2025.
The AMTZ and Telangana government will promote the establishment of regional offices in their respective states. The EPC for medical devices will be under the administrative control of the Department of Pharmaceuticals, which is a component of the Ministry of Commerce and Industry.
Presently, India currently exported Rs 23,766 crore of medical devices in FY22, which was up from Rs 19,736 crore from the prior year. "This will assist bring in coordinated inter-ministerial policy measures for unleashing the huge export potential and investment potential of over Rs 80,000 crore for manufacturing medical devices for the international market in our quest to be one of the top five preferred supplier bases of medical devices," expressed Rajiv Nath, forum coordinator, Association of Indian Medical Device Industry
