Medical device parks’ scheme notified

Representational Image.   | Photo Credit: MOORTHY RV

The Union government on Friday notified a scheme to promote medical device parks at a financial outlay of ₹ 400 crore till financial year 2024-2025.

The scheme aims to ensure easy access to testing and infrastructure facilities. It is expected that this will bring down the cost of production of medical devices, thereby making them more affordable for domestic consumption, the Department of Pharmaceuticals said in a statement.

The financial assistance for a selected medical device park would be 90% of the project cost of common infrastructure facilities for the northeastern and hilly States. For the rest, it would be 70%. However, a maximum assistance under the scheme for one such park will be ₹ 100 crore.

The Centre has granted in-principal approval for the parks in Himachal Pradesh, Tamil Nadu, Madhya Pradesh and Uttar Pradesh after it received proposals from as many as 16 States and Union Territories.

Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Oct 19, 2021 1:51:30 AM |

Next Story