Govt approves scheme to boost domestic manufacturing of medical devices

The government on Saturday approved a production-linked incentive (PLI) scheme for promoting domestic manufacturing of medical devices, with financial implications of Rs 3,420 crore.

The Union Cabinet headed by Prime Minister Narendra Modi also approved another promotion of medical device parks scheme worth Rs 400 crore for financing common infrastructure facilities in four medical device parks, an official statement said.

The expenditure to be incurred for the said schemes will be for the next five years i.e. from 2020-21 to 2024-25, it added.

"The Union cabinet has approved a scheme on promotion of medical device parks for financing common infrastructure facilities in four