Govt to organize international conference on Indian pharma, medical devices 26-27 May

New Delhi: The department of pharmaceuticals under the aegis of ministry of chemicals and fertilizers will organize the eighth edition of international conference on ‘India Pharma & India Medical Device 2023’ from 26-27 May. Union minister Mansukh Mandaviya will inaugurate the conference and launch a slew of initiatives on medical devices and pharma sector undertaken by the government.

As part of the conference, Mandaviya will launch the National Medical Devices Policy 2023, as well as the Export Promotion Council for Medical Devices.

Mandaviya expressed confidence that the Indian pharmaceutical industry will be contribute more to healthcare, whether domestic or global, in the coming years.

Last month, the Union 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

Mandaviya will also launch a scheme named ‘Assistance for Medical Devices clusters for Common Facilities (AMD-CF)’, aimed at strengthening or establishing common infrastructure facilities in the medical devices clusters and testing facilities for medical devices.

Over 100 CEOs from the pharmaceutical and medical device industries are expected to participate in the conference.