11 Jun 2021  |   06:07am IST

Cabinet post-facto oks medical device park proposal

Will bear cost of power tariff and water as well as project cost involved

Team Herald

PANJIM: The State government has granted a couple of post-facto approvals to facilitate the setting up of a medical device park in the State, on the lines of scheme approved by the Government of India.

The government had appointed PricewaterhouseCoopers (PwC) as consultants to prepare the project proposals and detailed report. The report has now been post facto approved by the cabinet. 

The State has agreed to bear the cost of the power tariff and water supplied to the medical device park and the project cost involved.

The government hopes that the medical device park will create huge employment opportunities in the State and will also provide opportunities to innovative entrepreneurs to set up their businesses.  

The State cabinet has given post-facto approval to the proposal submitted to the Industrial Finance Corporation of India Limited (IFCL) Project Management Agency for the medical device park scheme under the Department of Pharmaceuticals, Ministry of Chemicals and Fertilisers, New Delhi.  

The scheme under which the park is proposed, envisages creation of world class infrastructure facilities in order to make Indian medical device industry a global leader through easy access to standard testing and infrastructure facilities through creation of world class common infrastructure facilities.

The objective is to identify the stakeholders in the State in order to help in development of infrastructural facilities in the parks so that the parks will provide common testing and laboratory facilities/centre at one place reducing the manufacturing significantly and create a robust ecosystem medical device manufacturing in the country.