NEW DELHI: India's Medical Devices Industry has welcomed the thumping majority won by the Bharatiya Janata Party (BJP) in the Lok Sabha Elections 2019.
The Industry has underscored the urgent need to regulate all Medical Devices under a Patients’ Safety Medical Devices Law to protect patients.
Commenting on the victory, Rajiv Nath, Forum Coordinator, Association of Indian Medical Device Industry (AiMeD) said: "The vote of the people of India is an affirmative appreciation of steps taken by Mr Modi to provide relief to common man from unaffordable Healthcare that used to bankrupt families. Post Ayushman Bharat and Price Caps on Stents the public got assurance of extending further Price Controls to other medical devices in the BJP manifesto.”
Mr. Nath said, “The last five years witnessed significant developments in the medical devices sector with various Ministries of Government focusing on this earlier neglected sector, having realised the huge potential of this sector for unleashing Make in India and to become the next big Brand India success story after IT & Pharma.”
“The experimental and tentative steps taken to address inverted duty structure for some devices, price caps on Stents & Knee Implants etc. in Modi 1.0 needs to be now taken forward to the logical conclusion in Modi 2.0,” added Mr Nath.
He said, “There is an urgent need for the Government to accelerate further reforms for which foundation has now been laid and supportive measures in order to boost medical device manufacturing within the country, reducing huge import dependency in this sector.”