Niti Aayog Compiles List Of Domestic Medical Devices To Drive Funding

Niti Aayog Compiles List Of Domestic Medical Devices To Drive Funding

SUMMARY

The list includes medical devices that have the most potential for export

This list is being created so that their domestic manufacturing can be prioritised

Niti Aayog had earlier proposed for legislation for medical devices

Niti Aayog is reportedly preparing a list of medical devices that have the most potential for export. A list of ten such device-categories has been tentatively created. This has apparently been done to address the bottlenecks in domestic medical devices businesses.

“This list is being drawn up so that their domestic manufacturing can be prioritised. However, more devices are slated to be added in follow-up meetings. This is a preliminary list,” Businessline quoted an unidentified official as saying.

The devices that have been selected at the meeting by the government think-tank for providing priority subsidy or funding are cardiac stents, orthopaedic implants, surgical blades, catheters, X-Ray machines, syringes and needles, blood bags, CT Scan and MRI Machines and sutures.

Addressing the meeting, VK Saraswat, member, science and technology of Niti Aayog, said that the government was looking at a single-window framework for accelerating standardisation, body certification, declaring the device safe among others. “Currently there are too many departments involved in giving approvals, and thus they get delayed. We want to hasten this process,” Saraswat told Businessline.

Most countries apparently provide incentives to their domestic manufacturers for boosting their business. “Our biggest competitor is China, and largely their industry is thriving on domestic production (up to 95 %),” Himanshu Baid, chairman of CII Medical Technology Division was quoted as saying.

Niti Aayog has also been of the opinion that startups leveraging artificial intelligence (AI) are bringing a substantial change in the everyday lives of citizens. Amitabh Kant, CEO of Niti Aayog had earlier said that India is witnessing AI startups focused on solving the problems of accessibility, affordability, and availability.

Rift Between Health Ministry And Niti Aayog

Niti Aayog had proposed for legislation for medical devices and an independent regulator for this industry with the Draft Medical Devices (Safety, Effectiveness and Innovation) Bill, 2019. The Aayog argued that the need to have a strengthened regulation was spelt out in the government’s National Health Policy 2017.

However, the health ministry, which is the official custodian of the Drugs and Cosmetics Act and the drug regulatory authority in the country, has now raised concerns to the Niti Aayog to have wider consultations with stakeholders for the proposed legislation for medical devices.

The Central Drugs Standard Control Organisation under the health ministry is the nodal body for regulating both drugs and medical devices in the country, but Niti Aayog has asked for a Medical Devices Administration under the Directorate General of Health Services (DGHS) to regulate medical devices in the country.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Niti Aayog Compiles List Of Domestic Medical Devices To Drive Funding-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Niti Aayog Compiles List Of Domestic Medical Devices To Drive Funding-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Niti Aayog Compiles List Of Domestic Medical Devices To Drive Funding-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Niti Aayog Compiles List Of Domestic Medical Devices To Drive Funding-Inc42 Media
Niti Aayog Compiles List Of Domestic Medical Devices To Drive Funding-Inc42 Media
You’re in Good company