FDI in medical devices to attract MNCs, says industry body

FDI in medical devices to attract MNCs, says industry body

NEW DELHI: The government’s decision to liberalise FDI policy for the cash-starved medical devices sector will lower imports, encouraging MNCs to set up manufacturing facilities in the country, according to industry body EEPC India.
Significantly, the move will help reduce cost of medical devices benefiting patients as at present the country imports about 70 per cent of its requirement of medical devices. The estimated USD 7 billion market is dominated by multinationals.