A top American medical trade association today hailed President Barack Obama's just- concluded India visit for pledging to strengthen economic cooperation, including increased bilateral trade and collaboration in the healthcare sector.
"This week, President Barack Obama and India Prime Minister Narendra Modi pledged to strengthen collaboration, dialogue and cooperation between their two governments in a range of areas, including medical and related regulatory issues," said Stephen J Ubl, president and CEO of Advanced Medical Technology Association.
"We join with President Obama and Prime Minister Modi in reaffirming support for the role that science, technology and innovation partnerships can play in addressing pressing challenges in areas including health care and in developing innovative solutions that are affordable and accessible to people in both countries and that benefit the global community," he said.
The Association commended both leaders for reaffirming the importance of providing transparent and predictable policy environments for fostering innovation in the 21st century.
"AdvaMed welcomes reforms that India is pursuing to make it easier to do business in India, including a recent change in Foreign Direct Investment policy that clears the way for greater foreign participation and investment in India's medical device market, and we are encouraged by continuing efforts to create an appropriate regulatory framework for devices distinct from pharmaceuticals," Ubl said.
"We will continue to work with our members, India health care and government officials, and other stakeholders, to achieve needed medical device regulatory reforms that will ensure greater patient access to life-changing innovation," he said.
