TS addressing dependency on medical device import: Jayesh Ranjan
State has taken efforts that will enable scale of manufacturing through a dedicated Medical Devices park at Sultanpur spread over 250 acres, said Industries & Commerce Principal Secretary Jayesh Ranjan.
Hyderabad: Telangana is making all efforts to reduce the import dependency on medical devices in the country. Studies have shown that bulk of the device imports are happening from China and having realised this, the State has taken efforts that will enable scale of manufacturing through a dedicated Medical Devices park at Sultanpur spread over 250 acres.
Speaking at BioAsia 2021, Industries & Commerce Principal Secretary Jayesh Ranjan said that Telangana has focused on backward integration, sourcing, supply chain, research and development, engineering and medical talent in the park. So far, 40 companies have signed up to set their facilities including companies such as SMT which is setting up Asia’s largest stent facility. In total, the park has obtained commitment of over Rs 1,200 crore with a potential to generate 6,500 jobs, he added.
The product line of the companies is vast comprising catheters, orthopaedic implants, ultrasound scanners, dental implants, prosthetics and 3D implants in this park. The Indian government has realised the value of medical devices industry but we’ve been ahead in the curve. The medical devices park started in 2017. Hyderabad was doing exceedingly well in vaccines, Biotech, R&D, bulk drugs, etc but we needed to focus on medical devices as well, noted Ranjan.
Medtronic is investing Rs 1,200 crore in Hyderabad to set up its innovation and engineering centre, making it the company’s largest R&D facility in the world outside of the US. The facility will be inaugurated in next 3-4 weeks, said Madan R Krishnan, VP and MD, Medtronic India.
“Once the facility is ready in Hyderabad, the centre of gravity will shift and large number of divisions would like to come and be part of the R&D. We wanted to create a powerhouse of R&D in Hyderabad,” added Krishnan.
At the national level, Centre’s PLI scheme is also encouraging companies to set up facilities. GE Healthcare is planning to invest over Rs 100 crore to set up a unit in India as part of the scheme, informed Dr Shravan Subramanyam, president and CEO, GE Healthcare India and South Asia.
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