Sign In
Learn bits
Health & Medicine
Mahesh

21/05/23 09:29 AM IST

India Pharma & India Medical Devices

In News
  • The Union Minister for Chemicals and Fertilizers Dr. Mansukh Mandaviya will inaugurate the 8th edition of the International Conference on 'India Pharma & India Medical Device 2023'.
About the conference
  • The conference will be organized by the Department of Pharmaceuticals in association with Federation of Indian Chambers of Commerce and Industry (FICCI).
  • A new scheme will be launched named ‘Assistance for Medical Devices clusters for Common Facilities(AMD-CF) with the objective to strengthen or establish common infrastructure facilities in the medical devices clusters and also to strengthen or establish testing facilities for medical devices.
  • Theme- "Sustainable MedTech 5.0: Scaling and Innovating Indian MedTech,".
  • Recently the Cabinet cleared the National Medical Device Policy 2023, to make India a global manufacturing hub for medical devices, and approved establishment of 157 nursing colleges to create a cadre of skilled professionals.
  • The market size of medical devices in India stood at an estimated at $11 billion (approximately, ₹90,000 crore) in 2020 and its share in the global medical device market was seen at 1.5%.
  • At present, India imports around 75% of medical devices from other countries.
  • The medical device policy is expected to help the medical devices sector grow from the present $11 billion to $50 billion by 2030, and encourage domestic investments and production of medical devices in the country.
Source- PIB

More Related Current Affairs View All

08 Sep

Rajasthan’s coaching centre Bill

'The Rajasthan Coaching Centres (Control and Regulation) Bill, 2025, is a significant piece of legislation passed by the Rajasthan Assembly to regulate and oversee the state's burg

Read More

28 Aug

IADT-1

'Recently, the Indian Space Research Organisation (ISRO) successfully carried out its first Integrated Air Drop Test (IADT-1), a crucial milestone in the preparation for the countr

Read More

28 Aug

H-1B visa changes

'H-1B visa changes 2025: United States Commerce Secretary Howard Lutnick called the popular H-1B visa program a “scam”, saying that American businesses should be focuse

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps