Medical devices policy will make India healthcare resource centre: Industry

The National Medical Devices Policy, 2023 will pave the way for India to become an 'end-to-end' healthcare resource centre not only for the country, but also for the global needs, industry bodies opined on Thursday.

The government on Wednesday approved the new policy with an aim to promote domestic manufacturing and help the sunrise sector grow from the present USD 11 billion to USD 50 billion in the next five years and reduce import dependence.

The policy focuses on six strategies to tap the potential of the sector with the 'implementation of action plan'.

Ajay Singh, President of Assocham, said regulatory measures like single window for different types of licences, coherent pricing norms and infrastructure for manufacturing and technology advancement, are among the defining features of the new policy, as approved by the Union Cabinet.

"While India has established itself as a 'pharmacy of the world', integrated healthcare would require equal emphasis on medical devices.

"The new