Union Minister of Health and Family Welfare, and Chemicals and Fertilizers Mansukh Mandaviya will virtually address the Investor Summit "Opportunities and Partnerships in Pharmaceuticals and Medical Devices" on Wednesday from 10:00 am to 4.30 pm.
As per the Ministry of Chemical and Fertiliser, the summit will be part of the vision to further strengthen India's position globally in terms of pharmaceuticals and medical devices.
The theme of the summit is "Opportunities and Partnerships in Pharmaceuticals and Medical Devices."
The summit will provide an opportunity for industry participants and discuss success stories from the Indian medical devices sector, end to end integration for enhancing vaccine manufacturing capabilities, financing start-up in the pharma and medical devices sector and from the ground up - deliberating on streamlining regulatory processes for investors approved under Production Linked Incentive (PLI) Schemes for bulk drugs and medical devices.
"As regards the Medical Devices sector, the sessions will feature discussions on how India can develop as a land of opportunities for Medical Devices and the key learnings from the leading innovators. The medical devices sector is seen as a sunrise sector and has the potential to grow from the current level of USD 11Billion to a size of USD 50 Billion in the next few years," said the ministry's statement.
The PLI for Pharmaceuticals launched with an outlay of Rs 15000 crore has attracted considerable interest with about 278 companies applying to be considered under the scheme.
This Summit will encourage investors looking to build global champions in India in these products.It may be recalled that 13 companies have already been selected under the PLI scheme for medical devices earlier this year which will support their investment in enhancing domestic manufacturing of targeted devices.
The sessions will also cover the financing of the burgeoning start-up ecosystem, and it will culminate with a session on providing comprehensive facilitation to applicants selected under the PLI schemes about the smooth grounding of investments.
(With ANI inputs)