Beware the quantum computers
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
A preliminary list of 10 device-categories with most export potential have been drawn up for prioritising domestic production. More can be added later, said officials - Volodymyr Kryshtal
To eliminate bottlenecks in domestic medical devices businesses, government think-tank NITI Aayog is drawing up a list of devices which have most potential for export. A tentative list of 10 such device-categories has been drawn up, officials said.
Devices under the NITI Aayog scanner for providing priority subsidy or funding are cardiac stents, orthopaedic implants, surgical blades, catheters, X-Ray machines, syringes and needles, blood bags, CT Scan and MRI Machines as well as sutures. “This list is being drawn up so that their domestic manufacturing can be prioritised. However, more devices are slated to be added in follow-up meetings. This is a preliminary list,” an official, who was present at a meeting called by NITI Aayog told Businessline.
The meeting was chaired by VK Saraswat, Member, Science and Technology, NITI Aayog, who said that the government was looking at a single window framework for accelerating standardisation, body certification, declaring the device safe and so on. “Currently there are too many departments involved in giving approvals, and thus they get delayed. We want to hasten this process,” Saraswat said.
Sources said that the government is contemplating reimbursement to the company if the registration registration takes place in foreign countries. “Reimbursement of costs incurred while conducting clinical trials, as well as that for conducting Research and Development, patent filing charges will also be looked into,” said the source. A domestic stent manufacturer who did not want to be quoted said, “In the last clinical trial we undertook for getting registered our stent product with the USFDA, we spent close to ₹200 crore. This when we are already licensed by Indian regulators and our product is certified. There are a number of bottlenecks for domestic companies to boost exports. The government is looking at incentives like subsidies and preference, so that the exports of Indian products receives a fillip.”
Himanshu Baid, Chairman, CII Medical Technology Division said that all countries provide incentives to their domestic manufacturers for boosting their business.
“Our biggest competitor is China, and largely their industry is thriving on domestic production (up to 95 per cent), India needs to give it’s domestic industry,” he said.
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
Rocketship’s Anand Rajaraman on getting pitches from places like Rameswaram and Patna
Bengaluru-based Archeron group plans to open five banks that are run entirely by AI and quantum technologies
Ably skippered by N Srinivasan, India Cements is upping its post-Covid-19 game by expanding capacity
Three-in-one: Passive debt funds come at a low cost and have high-quality portfolios. Some offer return ...
Trend in the rupee movement and Q4 earnings can give direction to the market
There is room for improvement in fund transfer options
Silver looks positive but lacks the higher volumes required to substantiate bullishness
Murder is a theme that is unlikely to darken and yellow with time, the writer Truman Capote had once said.
Expect the unexpected when musicians of different traditions come together for a duet
On Ugadi, the Telugu New Year Day, a chronicler recalls slices of an isolated year gone by and realises that ...
In her novel based on the life of Rani Jindan Kaur, author Chitra Banerjee Divakaruni crafts a hero for the ...
Marketers are padded up, sponsorship deals have been struck, and campaigns are rolling out. Now let the games ...
And what marketers can possibly do to bring it back in our lives
The agency has changed form over the years but its lustre has not dimmed
Media Factory has purchased the majority stake held by Sam and Lara Balsara of Madison World in Madison Media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor