New Delhi, May 11 (KNN) The Department of Pharmaceuticals is exploring the possibility of mandating government contracts to give preference to the domestic manufacturers of medical devices for procurement.

This is being done with the aim to boost the local manufacturing.  To achieve this, there are talks of determining certain financial and preferential purchase rules that could be implemented by next month.

As per the rules on preferential purchase, any ministry can make mandatory for the procurement from manufacturer at home to promote domestically manufactured goods.

There have been requests from domestic manufacturers that make the medical devices.

The market at present faces heavy competition from the products coming from China. The Indian market gives fertile grounds for Chinese companies whereas the local companies are deprived of it.  Since Chinese products are at cheaper prices, the competition gets disturbed and the domestic manufacturers fail to secure the bid. Such a move to boost local procurement will help the sector grow.

Also there are plans to formulate the Medical devices policy to further add impetus to the sector.

At present around 70 per cent of the medical devices procured in the country are imported. Also the Oil and Steel ministry recently worked along similar lines to promote the local manufacturers in their sector. (KNN/ DA)