SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 25 Dec, 2023  

Doctor.9.Thmb.jpg MedTech Mitra

Doctor.9.jpg
   Top Stories
» 28 Indian startups raised over $800 mn in funding this week
» GST Council waives interest, penalty on notices to taxpayers under Section 73
» India's innovation ecosystem poised for exponential growth: Industry
» India's innovation ecosystem poised for exponential growth: Industry
» Overseas Indians faith grows in Indian economy with $1 billion deposits in April
Bikky Khosla | 25 Dec, 2023

The government has launched MedTech Mitra ─ a new platform for budding entrepreneurs and innovators in the medical device sector. The objective is to boost innovation and ease of doing research and development so that emerging start-ups can play a proactive role in making India ‘Atmanirbhar’ in this field. At present, the Indian MedTech industry is highly import dependent and the new platform is a move toward changing this scenario, according an official release.

Sounds good. The Indian medical device industry ─ comprising both large multinationals as well as small and medium enterprises ─ is estimated at $11 billion and the domestic market is the fastest growing one amongst the emerging markets, but we still import nearly 80 percent of these products and considering this, India definitely needs a comprehensive policy to address the huge gap. From this point of view MedTech Mitra is no doubt a welcome step.

In order to boost domestic manufacturing, the Centre, recently launched the Production Linked Incentive (PLI) scheme for the MedTech industry. Similarly, the National Medical Policy (NMD) 2023 has been launched with the aim of making India a leader in manufacturing and innovation of medical devices, securing a 10-12 percent global share over next 25 years. These comprehensive measures, along with steps like MedTech Mitra, will definitely boost overall growth and development of the Indian health sector.

Meanwhile, a latest report reveals some concerning facts. It has found that more than 18,000 employees were fired by Indian startups in 2022 while in 2023 over 17,000 startup employees have already lost jobs and the list is only growing. Similarly, another report shows 72 percent decline in VC funding for startups. Amid these difficulties, recent RBI crackdown on evergreening loans to AIFs may make matters worse for the sector.

I invite your opinions. 
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
Will the Budget 2024 be MSME friendly
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter