5 Industries to Invest INR 176 Cr in Ujjain Medical Devices Park

These investments are expected to boost the state's healthcare industry and simultaneously create job opportunities.

In a recent development, five industries have announced plans to invest a total of INR 176 Cr in the Medical Devices Park located in Ujjain, Madhya Pradesh.

These investments, aimed at enhancing the healthcare industry and creating employment opportunities, have been welcomed by the Madhya Pradesh Industrial Development Corporation (MPIDC).

According to official data from MPIDC, these proposals have the potential to generate employment for approximately 687 individuals.

Moreover, the leading investor, Medqverse, has pledged INR 100 Cr to establish a unit dedicated to manufacturing radiotherapy cancer treatment devices, with an expected job creation for 300 individuals.

Meanwhile, Technoplast Packaging plans to invest INR 62 Cr in manufacturing blood collection systems and insulin syringes, foreseeing 60 new job opportunities.

Sharing thoughts, Rajesh Rathod, executive director, MPIDC, said, "The investments will not only create job opportunities but also enhance the healthcare industry in the state. These proposals come as a positive sign for the growth of the healthcare sector in Ujjain, and the government is actively supporting such initiatives.’’

According to him, with the establishment of these units, the availability of advanced medical devices and treatments will improve, benefiting the residents of the region.

Other notable investments include Bansi Surgical Solutions' INR 1.47 Cr venture in setting up an ENT workstation, expected to employ 27 people, and Dksortho and Medical Device’s INR 5 Cr initiative in orthopedic implants, potentially creating 100 jobs.

Additionally, Remote Healthcare Technologies has proposed an INR 8 Cr investment, aiming to employ 200 individuals.

By attracting investments from various sectors, the state aims to strengthen its position in the medical technology space while simultaneously creating job opportunities for its residents.

Government's Initiatives for Medical Devices Industry

The investments come at a time when the medical technology industry in India is witnessing significant growth.

According to the Medical Technology Association of India (MTaI), the estimated size of the medical technology industry in India is around $11 billion.

Further, to streamline the ease of doing business in the healthcare sector, the Government of India also introduced the National Single Window System (NSWS), a streamlined online portal for managing medical devices.

This initiative seeks to simplify the process of import, clinical investigations, testing, and other necessary approvals for investors and businesses.

However, despite this growth, more than 80% of medical devices used in critical care units and significant procedures are imported, highlighting the need for domestic manufacturing capabilities in the sector.

Sharing similar sentiments, Union Health Minister Mansukh Mandaviya has said India's time to lead the market segment has come and it’s now.

According to him, India's recognition as the "pharmacy of the world" is well known, and it's time for the country to take lead in manufacturing affordable, innovative, and quality medical devices.

Last year, in October, the government approved an investment of INR 6,000 Cr ($812 million) in the pharmaceutical and medical device manufacturing sectors.

Union Home Minister Amit Shah announced this development while addressing a gathering at the dedication ceremony of the newly built National Institute of Pharmaceutical Education and Research (NIPER) campus in Gandhinagar.