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Govt nod to four medical device parks in South India

Monday, 11 Nov 2019

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The government of India has given its approval for setting up four medical device parks to provide world-class products at affordable price for treatment. The move will support Make in India initiative.

The four parks will come up in Andhra Pradesh, Telangana, Tamil Nadu and Kerala, while Uttarakhand and Gujarat have also approached the Centre for a go-ahead for such parks.

These parks will provide necessary infrastructure where companies can easily set up units. The move will not only cut import bill but will also help in easy access to standard testing facilities and reduce cost of production.

The project of Andhra Pradesh MedTech Zone for creation of Common Facility Centre (CFC) for Superconducting Magnetic Coil Testing and Research was recently given in-principle approval.

The scheme proposes to provide Rs 25 crore or 70 percent of the project cost of setting up of CFCs, whichever is less, for creation of common facilities in any upcoming park.