AiMED supports Govt's initiative to boost medical devices sector with EPCMD

The Association Indian Medical Device Industry (AiMED) congratulates the government's announcement to operationalise the Export Promotion Council for Medical Devices (EPCMD). This is a long-awaited move for the promotion of exports and innovations in the medical devices sector. 

This is part of making the country the hub for manufacture and exporting of health products at a global scale. AiMED Forum Coordinator, Rajiv Nath reflected upon the council's decade-long effort to get established. 

EPCMD aims for medical devices exports from India, which currently stand at Rs 31,672 crore with a $3.7 billion turnover and growing at 14% per year, to take top five position exporter nations - USA, Germany, China, the Netherlands and Brazil - and target a USD 30 billion market size by 2030.

He went on to address the council in the capacity of EPCMD's Executive Director as to how the council would take medical devices manufactured in India to global shores. This sector holds great promise for a great deal of innovation and huge economic growth and EPCMD will act as a focused institutional mechanism to boost exports and domestic manufacturing.

Industry leaders are of the opinion that medical devices as a sector have independent requirements as opposed to pharmaceuticals. AiMED has once again shown endorsement for EPCMD, expecting that it shall be instrumental in economic opportunities and jobs by really advancing India's vision of 'Atmanirbhar Bharat' in the MedTech sector.

Rajiv Nath, Forum Coordinator, AiMED said, "This is a historic and proud moment for the Indian medical devices industry. The formation of EPCMD will serve as a catalyst in transforming India into a global hub for medical device manufacturing and exports. We thank the Hon’ble Minister Shri Piyush Goyal and all supporting bodies for making this a reality."

"The government’s decision to establish EPCMD separately from pharmaceuticals is a significant victory for the industry. The council is already working on trade agreements and market access to strengthen the ‘Make in India’ initiative", added Jatin Mahajan, Managing Director of Mitra Industries & Secretary of the Association of Diagnostic Manufacturers of India.