Welcoming Centre’s forward-looking recommendations for the industry, Association of Indian Medical Device Industry (AIMED) expressed relief that it will facilitate creation of vibrant eco-system for domestic manufacturing of medical device in the country. The association also pointed out that prompt and efficient implementation of the same can also help in reducing humungous import dependency in this sector, to aid India turn net exporter within a few years time.
Ananth Kumar, Union minister for chemicals and fertilizers, had on Wednesday released the recomendations of the Task Force on medical devices industry. It is understood that the said recommendations has given due weightage to the long standing demands of the industry regarding financial support to manufacturing units, reversal of inverted duty structure, MRP based taxation system, etc.
The highlight of the recommendations, according to industry experts is the decision to create separate department and law book for medical devices, to give the required push for medical device manufacturing in the country.
Rajiv Nath, forum coordinator of AIMED said, “We are very enthused by the recommendations of the task force on medical device industry as it sets a clear and definite road map for the industry. However, all said and done, these recommendations need to be supplemented with additional measures to fully realize the vision of ‘make in India’ and to become factory of the world.”
He pointed that along with zero duty on raw materials, duty on finished imported goods also needs to be raised to maximum level to dis-incentivise imports and attract foreign investments in Indian manufacturing. While on the creation of new law book and rules for medical devices, Nath stressed that there must be an altogether new Act for medical devices rather than a new chapter being added to the existing Drugs and Cosmetics Act, 1940.
Industry strongly feels that that the new legislation must also ensure that traders and pseudo manufacturers are not permitted to pass-off as manufacturer. Sources emphasized that there must be separate departments for medical devices and pharmaceuticals working under the same ministry which could be called Ministry of Life Sciences or Ministry of Healthcare Products. Also that both departments should be under one coordinating minister to ensure faster decision making.
Welcoming task force’s recommendation to have a new medical device parks, Nath pointed out that it was equally important that government invests in strengthening the infrastructure facilities at existing industrial parks. He expressed hope that government would go extra mile to see that task force recommendations are implemented at the earliest.