Partnership aims to strengthen investment and innovation in MedTech.
Invest India, the National Investment Promotion and Facilitation Agency of the Government of India, has signed a Memorandum of Understanding (MoU) with the Asia Pacific Medical Technology Association (APACMed) at Bharat Mandapam, New Delhi, to strengthen collaboration in India’s medical technology sector. The MoU was exchanged in the presence of Manoj Joshi, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilisers, and Dr M Srinivas, Member, NITI Aayog. According to the Government, the partnership provides a framework for collaboration in investment facilitation, regulatory and policy engagement, research and innovation, technology transfer and digital health, and is expected to encourage investment, domestic manufacturing and local value addition.
Following the signing, a CEO Roundtable on ‘MedTech as a Catalyst for Viksit Bharat @2047’, chaired by Manoj Joshi, brought together 26 industry leaders, including representatives from Boston Scientific, FUJIFILM India, Abbott, Johnson & Johnson, Medtronic, GE Healthcare, Bayer Pharmaceuticals and Stryker. Discussions focused on local sourcing, supply chain resilience, research and development, Global Capability Centres (GCCs), workforce development and strengthening India’s participation in global MedTech markets. The Government said it aims to increase domestic value addition in high-end medical devices and imaging equipment from around 25 per cent to 40-45 per cent, while actively exploring the next phase of the Production Linked Incentive (PLI) Scheme.
Source: PIB
