India's Largest Medical Device Park To Come Up In Sector 28 Of Noida

India's Largest Medical Device Park To Come Up In Sector 28 Of Noida

Lucknow, August 13 (TNA) The largest medical device park of Uttar Pradesh is going to be built on a vast stretch of land of the ​​Yamuna Expressway Development Authority (YEDA). For this 350 acres of land has been allotted in Sector-28 of Gautam Buddha Nagar (Noida), an official said. An incubation center will also be set up in five acres of this medical device park.

It is believed that startup companies will benefit from this center. YEDA has already signed a contract with IIT Kanpur for the incubation center. The medical device park to be built in two phases will have an investment of Rs 5,250 crore and will provide employment to more than 20 thousand people.

The Indian pharmaceutical industry ranks third in the world. Despite this, India is dependent on China for raw materials for all medicines. In the case of raw materials for some drugs, the dependence is 80 to 100 per cent.

When the corona pandemic started, there was a natural raw material crisis. Therefore, the Policy Commission, the Union Ministry of Health and the concerned departments of the Center decided that in order to make the country self-reliant in the field of medicines and medical devices and to promote Prime Minister Narendra Modi's Make in India, to make this park.

Departmental officials said that the medical device park which will be allowed by the central government in UP will get a grant of around Rs 100 crore from the central government. Apart from this, due to UP's investor friendly policies, domestic and foreign companies will be interested in investing in UP's medical device park.

Here ready sheds will be allotted to industries instead of plots. So that medical devices can be produced by installing the unit quickly. In the first phase, sheds will be constructed in 125 acres and allotted to industries. In the second phase also the same scheme will come in 225 acre area. A similar medical device park has been set up at Visakhapatnam.

Yida officials have also visited the Medical Device Park in Visakhapatnam a few months back to study the ongoing project there and how can its best practises be replicated in UP. The Authority has prepared a detailed project report of Medical Device Park from Kalam Institute, Hyderabad.

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