Union Cabinet approves Scheme for Domestic Manufacturing of Medical Devices |ForumIAS

ForumIAS LATEST

1. 1. SFG FRC 2027 | Program starts from 15th Dec. 2026 | Admissions open for Tranche-1 Entrance Test till 25th Oct. 2026 Click Here to know more →
  2. Prelims Test Series (PTS) for Prelims 2027 starts 11th Oct. 2026 Click Here to know more →
  3. [Pre-order] Ethics Redbook 3rd Edition: Delivery starts from 21st October onwards Click Here to Read More →
  4. 21 Sept. | GS Advance Program (GSAP) for UPSC 2027 Mains starts from 11th Oct. Click Here to Read More →

News:Union Cabinet has approved the Domestic manufacturing of Medical Device Park Scheme.

Facts:

About:

Aim:To boost the domestic manufacturing of medical devices in the country which will reduce the imports and the cost of production.
Under the scheme,the government has decided to set up four ‘Medical Device Parks’ and three ‘Bulk Drug Parks’ across the country for which it will provide incentives to states.
Funding:It will give grants-in-aid to each state, up to Rs 100 crore for each ‘Medical Device Park’ and Rs 1,000 crore for each ‘Bulk Drug Park’ over the next five years.