NOIDA: In two years, Gautam Budh Nagar will get northern India’s first medical equipment and device manufacturing park. Other four parks are in the southern states of AP, Telangana, Tamil Nadu and Kerala.
The park will be developed by the Yamuna Expressway Authority in Sector 28 of YEIDA area. In March, YEIDA will bring out a scheme for the project, which is estimated to cost around Rs 5,000 crore, of which Rs 100 crore will be borne by the central government, officials have said.
TOI has learnt that the Yamuna Expressway Authority has already earmarked 125 acres for the first phase of the scheme, where about 250 units are to be built. Here, domestic and foreign companies will manufacture various medical devices, including radiological devices such as CT scan and X-Ray machines, blood pressure monitors, pulse oximeters and ventilators, with production targeted to start by 2023.
Arun Vir Singh, CEO of YEIDA, said, “The medical device park will have plots ranging from 1,000 sqm to 4,000 sqm, which will be developed as ‘flatted industrial units’ of plug and play sheds (single or multi-storey roof-covered structures in the form of buildings). Both options will be there. It will be the first such park in northern India. We will bring out the scheme in March as all preparations are underway.”
Following the Covid pandemic, there’s a need to further strengthen domestic medical equipment manufacturing, especially as the central government has stepped up efforts towards self-sufficiency in this field. In view of this, YEIDA’s medical device manufacturing park gains even more significance, officials said.
According to estimates, the medical devices retail market in India is of around Rs 70,000 crore, whereas the domestic medical devices industry is smaller even though India is the fourth-largest market in Asia. The country is largely an importer of medical devices, with domestic industry accounting for about 2% of the global industry, which stands at USD 250 billion, as per the estimates.