The Aryavarth Express
Agency (New Delhi): The Government of India has embarked on a robust initiative to enhance the domestic manufacturing of medical devices and toys, marking a strategic shift towards self-reliance and economic growth. This move is aimed at reducing the country’s dependency on imports while simultaneously expanding its export capabilities.
In the realm of medical devices, the country has witnessed a notable increase in both imports and exports over the past three years. The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, has introduced several key measures to encourage domestic production:
Production Linked Incentive (PLI) Scheme for Medical Devices: With a substantial outlay of Rs. 3,420 crore, this scheme is designed to incentivize the domestic manufacturing of medical devices, particularly in four target segments including Radiotherapy and Imaging Devices. This initiative has successfully onboarded 26 participants, including 11 MSMEs, reflecting the government’s commitment to fostering growth in this sector.
PLI Scheme for Pharmaceuticals: With a budget of Rs. 15,000 crores, this scheme supports the production of In-Vitro Diagnostics (IVD) devices among other pharmaceutical products. It has selected 55 applicants for incentives, including five IVD device manufacturers, of which four are MSMEs.
Medical Devices Parks Promotion: The scheme, with a financial allocation of Rs. 400 crore, aids in the establishment of Medical Devices Parks. This scheme has been crucial in developing infrastructure facilities in the medical device sector, with four states, namely Himachal Pradesh, Madhya Pradesh, Tamil Nadu, and Uttar Pradesh, receiving significant financial assistance.
Assistance to Medical Device Clusters (AMD-CF): This program aims to develop common infrastructure facilities such as testing labs and e-waste treatment facilities for medical device clusters. Launched in January 2024, it extends financial assistance to national or state-level government or private institutions to establish or strengthen testing facilities for medical devices, with a special focus on MSMEs.
Parallelly, the Indian toys industry has also seen transformative growth due to the concerted efforts by the Department for Promotion of Industry and Internal Trade. The government has implemented several strategic measures to nurture the indigenous toy industry, leading to a remarkable 52% reduction in toy imports and a 239% increase in exports over the years. These measures include strict quality control and import regulations, implementation of BIS certification for toys, and promotion of exports through Free Trade Agreements (FTAs) with various countries.
Supporting the Micro, Small & Medium Enterprises (MSME) sector remains a focal point of the government’s strategy. Under the Scheme of Fund for Regeneration of Traditional Industries (SFURTI), 19 toy clusters have been approved, benefiting nearly 11,000 artisans across different states. This scheme exemplifies the government’s commitment to revitalizing traditional industries and empowering local artisans.
These comprehensive efforts, as outlined by the Minister of State for Micro Small and Medium Enterprises, Shri Bhanu Pratap Singh Verma, illustrate India’s dedication to strengthening its manufacturing capabilities. The strategic push in the medical devices and toys sectors not only aims at economic development but also positions India as a key player in the global market, paving the way for a self-reliant and prosperous future.