New Delhi [India], Apr. 23 (ANI-BusinessWireIndia): We welcome the PMO's intervention on the National Medical Device Policy (NMDP). We are thankful that the Government has acknowledged the importance of FDI (Foreign Direct Investment) 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:
1. MTaI members represent the entire spectrum of medical devices and technology: from Cannulae to Linear Accelerators; from Endoscopes to Hip & Knee Implants
2. MTaI members have deep manufacturing experience in India as well as in other parts of the world
3. MTaI members are developing products for the developing world through their R&D set ups in India
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.
About MTaI: (http://mtaiindia.org/)
Medical Technology Association of India (MTaI - pronounced as Em-tai) is a not-for-profit organization duly registered under sub-section (2) of section 7 of the Companies Act, 2013 and Rule 8 of the Companies (Incorporation) Rules, 2014.
MTaI is an association of research-based medical technology companies who have made remarkable investments by setting up a large number of R&D centres and manufacturing plants in India. MTaI represents a wide spectrum of the medical device and equipment industry with global experience in innovation and manufacturing. All the time stressing on the three hallmarks of healthcare - Quality, Consistency and Patient Safety, MTaI wants to be a responsible voice of the industry. The association is committed to improving access to affordable and quality healthcare for patients.
MTaI looks to partner with the Government of India in setting a roadmap for the growth of medical devices sector by bringing in even bigger investments in this sector, through 'Make in India' and through technology upgradation and dissemination in the provider space.
Join MTaI on Facebook: @mtaiorg | Twitter: @mtaiorg. (ANI-BusinessWireIndia)