New Delhi: Noida to get its first Medical Devices park under the Central Sector scheme. Land expanding to 350 acres has been allotted to 59 firms and will be set up in Sector 28 of YEIDA Phase 1, Noida. The total project cost to be incurred is Rs 435.94 crore.
Yamuna Expressway Industrial Development Authority (YEIDA) on April 26 delivered all the allotment letters to the allottees.
Objective
The scheme for “Promotion of Medical Device Parks” was launched by the Ministry of Chemicals and Fertilizers in order to boost the medical devices industry in line with Atmanirbhar Bharat.
Medical Device Industry deals in the creation of machines that are used to support life within the human body.
The main purpose behind setting up these medical device parks is to provide easy access to standard testing and infrastructure facilities through the creation of world-class common infrastructure amenities via medical device parks.
To reduce the cost of production of medical devices and deliver improved availability and affordability of medical devices in the domestic market.
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More details about the scheme
A total of 59 companies have been allotted the land ahead for the upcoming medical device park, and the companies are to invest around Rs 415 crore, as per officials.
This investment will be creating direct employment opportunities for about 5,000 people.
As per YEIDA, some of the devices to be manufactured here are orthopaedic implants, anaesthesia needles and kit, oxygen, anaesthesia work station, X-ray machine, spinal implants, gastrology medical devices, endoscopic, ICU ventilator, biliary stents, ECG machines along with coronary stents, trauma management implants.
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The objective of this scheme is to encourage Medical Device Parks in the whole of India by supplying Grant-in-Aid for the creation of CIF (Cost, Insurance, and Freight). Selected Medical Device Parks to get financial assistance of up to 70% of the project cost of common infrastructure facilities. Timespan of this scheme is 2020-21 to 2024-25.
4 Medical Device Parks that have already been set up under the Central sector scheme are in Andhra Pradesh, Telangana, Tamil Nadu and Kerala.
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