SCHEME FOR “PROMOTION OF MEDICAL DEVICE PARKS”            

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Context

• The Department of Pharmaceuticals has notified the Scheme for “Promotion of Medical Device Parks”.

About

• The Medical Devices Parks to be developed under the scheme will provide common infrastructure facilities at one place thereby creating a robust ecosystem for the medical device manufacturing in the country and also reducing the manufacturing cost significantly.
• The total financial outlay of the scheme is Rs. 400 crore and the tenure of the scheme is from FY 2020-2021 to FY 2024-2025
• The financial assistance to a selected Medical Device Park would be 70% of the project cost of common infrastructure facilities.
• In case of North Eastern States and Hilly States, financial assistance would be 90% of the project cost. Maximum assistance under the scheme for one Medical Device Park would be limited to Rs. 100 crores.

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1757662