Govt of India to set up Rs 350 cr medical device park in Gujarat
Govt of India to set up Rs 350 cr medical device park in Gujarat
New Delhi, 8 October 2009
The government of India is planning to set up a dedicated zone for medical devices manufacturing and the first medical devices and equipment park would come up in India’s western state of Gujarat.
“We are taking a cluster approach for developing the medical device sector in the country and first such medical device park would come up in Gujarat,” Indian Minister of State Chemicals and Fertilisers Srikant Jena told PTI on the sidelines of a Federation of Indian Chambers of Commerce and Industry (FICCI) conference.
According to Ministry officials, the total investment in the park would be more than Rs 300-350 crore(US$65 million), and work construction on the park is likely to begin by November this year.
According to industry estimates, the total market for medical devices in the world is estimated at around US$200 billion, which is growing at the rate of 4.5 per cent annually.
India, however, accounts less than one per cent of the total global market for these products and imports accounts for 65 per cent of the domestic market.
The pre-feasibility study for setting up the greenfield ‘Medical Devices and Equipment Park’ was carried out by the financial services firm, IL&FS.
It has submitted a report to the ministry after the Gujarat government showed interest in setting up the park near Ahmedabad.
The Department of Pharmaceuticals under the aegis of Chemicals and Fertilisers ministry has also ordered the National Institute of Pharmaceutical Education and Research (NIPER) to conduct a market study on the sector along with consultancy firm, Frost and Sullvian.
“The study would act as a basis for the government’s action in future,” Department of Pharmaceuticals Secretary Ashok Kumar said.
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When it comes to Gujarat, positive and progressive things gets done! Thank you Dear Modi.
The goal is to boost our purchasing power in the world at every opportunity. Modi has the right mindset & answer, The Congress chamchagiri is not the way.
Given our position in pharmaceuticals and healthcare sector, it is a logical and lucrative extension.
After years of slinging negative BS and getting drummed in elections, Congress finally seems to have realized that positives work in Gujarat. Let’s hope this is not a cynical game of promise-making, or worse, promise-then-blame-others. Let’s wait till this becomes a reality before we give too much credence to turn around in Congressi attitudes.
with all due credit to Modi for what he his doing in Guajrat………….
we should not be blind folded and not see that when things are being done by Central Gov……than due appreciation should go to Central Gov……….
its the Central Gov – Gov of India who has shown interest in developing such a park in Guj………..no doubt there will be some back channel diplomacy that have worked in favour of Guj and that would have been done successfully by the BJP gov of Guj………….but the fact of the matter is the project is Central Gov project and hence only giving credit to Modi for this is erroneous…………
Great news…
Jay Mataji ,Jay Gujarat.
Keep it up.Lets work on get red off corruption too.