Staff Corner Home

The News and Info Site for Central Government Employees & Pensioners

100% FDI in medical devices industry. Pacemakers, stents and other medical devices to get cheaper

» »

25 Dec, 2014 7:49a.m.

The cabinet on Wednesday approved a proposal to allow foreigners to buy 100% of device makers with prior government nod. With this it has become easier for foreign companies to fully own medical device-making plants in India, a move that could eventually make several products such as cardiac pacemakers, stents and surgical instruments cheaper.

In a statement, the government said it was easing “norms” for the medical devices industry to encourage inflows of foreign direct investment (FDI), adding that the domestic capital market “is not able to provide the much needed investment in the sector.”

India currently imports about 90% of its medical devices.

Dont forget to share this post
Post to facebook Tell your friends

Enter your email address for latest Staff News:

Other General News

Other News

Govt. Job openings.

Join the Employees community. Receive all updates via Facebook. Just Click the Like Button Below...

Facebook Gconnect
Social Reading at Staffcorner