Greater Noida: Investors have shown interest in the Medical Device Park (MDP) being developed in Yamuna City, Greater Noida. However, they have set certain key conditions before committing to an investment. At the recent meeting held at Bharat Mandapam, Pragati Maidan in Delhi, with the officials of Yamuna Expressway Industrial Development Authority (YEIDA), many medical device manufacturing companies put forth suggestions and demands regarding investing in MDP.
Demand To Increase Categories From 5 To 10
At present, 5 industry categories have been decided for developing the Medical Device Park (MDP). The companies have demanded that it should be increased to to10 categories. Gradually, more medical device manufacturers can be a part of the project.
Licensing Facility Must Be On-Site
The Industrialists have also suggested that licensing and ISO certification facilities be made available in the MDP premises itself. This will cut expenses and travel time.
Demand For Exemption From Duty On Raw Materials
The industrialists have demanded that the duty currently levied on raw materials required for medical device manufacturing should be given a concession or subsidy. This will cut down the cost and make the investment attractive.
No Delay In Brand Approval
Another major demand includes that the process of brand approval of medical device products should be expedited. Companies expressed concern that a delay in approval would lead to financial loss as the products are not able to reach the market on time.
Here’s What YEIDA CEO Says
Addressing all the demands, YEIDA CEO Rakesh Kumar Singh said that he would present them before the BOM. He also informed that the Medical Device Park will be equipped with world-class facilities.
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