Gujarat state government recently constituted a high level committee to deliberate the process of finalizing the proceedings for setting up a medical device park in the state. The committee will also be responsible to pro actively discuss policy measures essential to galvanize and make these parks financially viable.
Once functional the park, which will be having common manufacturing facilities, is expected to reduce capital expenditure for projects by offering low cost rentals and revenue support services, thus enabling these units to be competitive than depending on the usual capital subsidy model.
It is understood that the government aims to start commencement of building the park, before the start of Vibrant Gujarat Global summit 2017, to get an extra edge and attract more investors to the state. In a meeting held last week, the committee discussed on key issues that needed immediate attention for getting requisite clearance from the government.
It is understood that the committee has already identified a land near Sanand, for building a state of the art park with primary focus on research and development (R&D). This is a strategic move comes as it will mark the setting up of second medical device park in the country.
Early this month, the Andhra Pradesh government had laid the foundation stone for India’s first medical devices park Andhra MedMedTech Zone (AMTZ) in Visakhapatanam.
According to D L Pandya, a lot of high expectations are riding on this park, so as to help the industry get global acceptance as a R&D based sector. This is especially important now because the Indian medical device sector is going through a transitional phase from being a low-cost, low-volume low-technology industry to a high tech based sector.
The park will enable the companies with all the latest technological support required for R&D. It is expected to produce high tech devices like x-ray machines, magnetic resonance imaging (MRIs) and other such equipment along with consumables, disposables, electronics, equipment, implants, diagnostic reagents and surgical instruments for the medical sector.
It is understood that the park will have regulatory approval and licensing office, virtual computer aided engineering (CAE) simulation lab with experts, prototype development centre, incubation centre, etc
“The government should start the work on the park without any further delay. We need it to reduce our import dependency quickly, create vibrant manufacturing eco-system and generate lakhs of high-value jobs within the country, something which we all want,” pointed out Rajiv Nath forum co-coordinator of Association of Indian Medical Device Industry (AIMED).