MTaL acknowledges the importance of FDI and how their consultation can help give a wide-angle view to the policy makers
Pavan Choudary, Director General, Medical Technology Association of India (MTaI) has welcomed the PMO’s intervention on National Medical Device Policy (NMDP). Choudary stated, “We are thankful that the government has acknowledged the importance of Foreign Direct Investment (FDI) in this sector and is now further consolidating the gains it has already made in this regard post bringing the FDI on automatic route. We are also hopeful that before the finalisation of the NMDP, MedTech associations like Medical Technology Association of India (MTaI) are also consulted.”
The benefits of such consultation with industry include:
It is well known that Make in India for the MedTech sector cannot happen without the collaboration of the world due to the long gestation period of this industry which requires deep pockets, and due to its need for continual infusion of technology. Devoid of the high-tech input, the Make in India push may congest the low-tech manufacturing segment of this sector, which although significantly populated already, but is still healthy today.
This wider consultation would give a wide-angle view to the policy makers without which there is the danger of the policy being impractical and unbalanced, which would make it difficult for the Make in India needle to move.”