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The four medical devices parks being developed under the scheme for Promotion of Medical Devices Parks of the Department of Pharmaceuticals (DoPs) have seen commitments for investment to the tune of over Rs. 13,776 crore till the end of July, 2024.
The total committed investment is except for the Park coming in Himachal Pradesh, since the committed investment for this project is not available, according to the ministry of chemicals and fertilisers.
While the scheme had a financial outlay of Rs. 400 crore to be implemented within the tenure from 2020-21 to 2024-25, the Centre has released a meagre Rs. 30 crore each for the four projects till the time, and the total fund utilised till June, 2024 including the state share is a total of Rs. 135 crore.
The Department had received proposals from 16 states when it announced the scheme and after evaluation, proposals of Uttar Pradesh, Tamil Nadu, Himachal Pradesh and Madhya Pradesh were approved, said Anupriya Patel, minister of state in the ministry of chemicals and fertilisers recently in the Lok Sabha earlier this month.
"Construction activities are in progress in all 4 selected parks," she said." Common facilities at the park would reduce the manufacturing cost significantly and create a robust ecosystem for medical device manufacturing in the country," she added.
According to the data, the Park in Uttar Pradesh has attracted the highest committed investment of Rs. 8,895 crore, so far. The project, with a total project cost of Rs. 435.94 crore and the total cost for Common Infrastructure Facility (CIF) is Rs. 186.63 crore, has utilised around Rs. 46.91 crore till the end of June, 2024 including the state share.
In Tamil Nadu, envisaged to come up with a total project cost of Rs. 212.40, and a total cost for Common Infrastructure Facility (CIF) at Rs. 153.33 crore, has reported a committed investment of Rs. 1,495 crore. The total fund utilised till the end of June was Rs. 25.97 crore.
The Park in Madhya Pradesh has a total project cost of Rs. 222.77 crore, and Rs. 155.63 crore is for CIF. The Park has utilised funds to the tune of Rs. 39.22 crore, and has attracted committed investment of Rs. 3,386 crore.
The Park in Himachal Pradesh is coming up with a total project cost of Rs. 349.83 crore, of which the total CIF cost is Rs. 157.64 crore. The Park utilised funds to the tune of Rs. 23 crore, including state share till June. However, the committed investment for the park is not available, said the Ministry.
Department of Pharmaceuticals has released the guidelines of the scheme in July, 2020 and has been implementing the scheme with an objective to provide easy access to standard testing and infrastructure facilities through creation of world class CIFs for increased competitiveness which will result in reduction of the cost of production of medical devices leading to better availability and affordability of medical devices in the domestic market.
The total financial outlay of the scheme is Rs. 400 crore and the tenure of the scheme is from 2020-21 to 2024-25. The financial assistance by the Centre is subject to a maximum limit of Rs.100 crore per park or 70 per cent of the project cost of CIF (90 per cent in case of north eastern states and hilly states), whichever is less.
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