Export Promotion Council for Medical Devices to be set-up soon

New Delhi, Sept 22 (KNN) The Union Ministry of Commerce has decided to setup an Export Promotion Council for Medical Devices (EPCMD) under the aegis of Department of Pharmaceuticals to boost exports of medical devices from India.

The Yamuna Expressway Industrial Development Authority (YEIDA) will provide Rs 3 crore as an initial fund support for setting up of the Council and free office space at the upcoming Medical Devices Park Common Facility Centre, Greater Noida.

The council will be headquartered in YEIDA, Greater Noida and with regional offices in Andhra Pradesh and Telangana.

The Engineering Export Promotion Council of India (EEPC) will provide assistance and guidance to the EPCMD for an initial period of five years.

"The setting up of the export promotion council will help bring in coordinated inter-ministerial policy measures for unleashing the huge export potential and investment potential of over Rs 80,000 crore for manufacturing medical devices for the global market," step will go a long way in accelerating the exports and manufacturing growth of this sector," Rajiv Nath, Forum Coordinator, Association of Indian Medical Devices Industry (AiMeD) told IANS.

India during FY 22 exported Rs 23,766 crore worth of medical devices up from Rs 19,736 crore the previous year.  (KNN Bureau)