The Department of Pharmaceuticals under Ministry of Chemical and Fertilizers, has notified the Scheme for “Promotion of Medical Device Parks” .
- Himachal Pradesh, Tamil Nadu, Madhya Pradesh and Uttar Pradesh have been given “in-principle” approval to set-up Medical Device Parks under the scheme.
- The Medical Devices Parks to be developed under the scheme will provide common infrastructure facilities at one place thereby creating a robust ecosystem for the medical device manufacturing in the country and also reducing the manufacturing cost significantly.
- The total financial outlay of the scheme is Rs. 400 crore and the tenure of the scheme is from FY 2020-2021 to FY 2024-2025.
- The financial assistance to a selected Medical Device Park would be 70% of the project cost of common infrastructure facilities. In case of North Eastern States and Hilly States, financial assistance would be 90% of the project cost.
- Maximum assistance under the scheme for one Medical Device Park would be limited to Rs. 100 crores.
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