Centre to set up a regulatory authority for import of medical equipments

February 19th, 2009 - 10:09 pm ICT by ANI  

New Delhi, Feb 19 (ANI): Union Minister of Science and Technology Kapil Sibal on Thursday addressed an international conference on Medical Electronics, and said the government will set up a regulatory authority soon to stop the import of unreliable medical devices and encourage manufacture of standard medical equipments in the country.
Sibal informed that the legislation was already underway and by the course of next year, it will be in place.
At this point in time, the legislation is cleared and it is going to the cabinet very soon. So, we will have a regulatory mechanism that will give the kind of incentive that the industry needs to actually move forward in a big way in the manufacture of electronic and medical devices in India, Sibal said.
Sibal added that the regulatory framework would ensure the availability of treatment facilities through medical devices to the poor people at affordable prices.
Whats happening in our country today is, because of absence of a legislation in the regulation of such devices and the standardisation of such devices. What we have, is the imported medical equipment and devices both, electronic and otherwise that are sold in a monopoly situation in India. And the result of that is they charge very high prices, unaffordable to the poor in our country, Sibal said.
Sibal also invited foreign manufacturers of healthcare equipments to set up joint ventures in India, to cater to global and domestic markets.
There is a great possibility of exporting the products to the rest of the world who need these devices for affordable and accessible healthcare. With the meltdown coming, let me advise my industry friends, who might have come from abroad here, this is a great opportunity for you in India. If you set up joint ventures in India for the purposes and once the regulatory mechanism is in place, you will not only get access to the Indian market, you will also get access to the global market, Sibal added.
Market for healthcare in India is growing and is expected to continue to grow at 15 percent per annum and with the regulatory mechanism in place the possibilities for expanding the manufacture of these equipments is pegged to grow by leaps and bounds. (ANI)

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