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Indian Embassy In Moscow
Bats For Tapping Potential Of Indo-Russian Medical Device
Industry Through Collaborative Efforts
• AiMeD and DRISP have joined
hands to give a boost to bilateral medical device trade
• Future roadmap and emerging opportunities discussed in
webinar
• MoU was signed between AiMeD and DRISP in November 2023
New Delhi, April 22, 2024:
Given the enormous opportunities in the medical device
industry for multifaceted bilateral engagements, experts
from India and Russia have vouched for faster efforts to
give a boost to collaborations to make the most of
emerging opportunities in the areas of manufacturing and
marketing lifesaving medical equipment and devices. AiMeD
and DRISP had signed an MoU last year and are now moving
ahead towards strengthening the bilateral relations
through their collaborative efforts.
“The support extended by Indian Embassy
in Moscow in our collective efforts to mutually cash in on
emerging opportunities in medical device industry will go
a long way in giving a further fillip to bilateral trade
ties between two nations,” said Rajiv Nath, Forum
Coordinator, Association of Indian Medical Device Industry
(AiMeD).
Nath informed that experts
from India and Russia at a recently held webinar rightly
stressed the need for a dynamic and multifaceted economic
engagement, guided by shared interests and a commitment to
further deepen bilateral cooperation and the two
organisations will contribute in their own humble manner
in line with that objective.
The online event was attended
by over 70 Indian manufacturers and exporters alongside
some key Russian investors.
“There is a huge scope for
partnerships between Indian stakeholders and their Russian
counterparts in the field of medical device industry.
Centre for the Development of Russia India Strategic
Partnership (DRISP) and AiMeD have joined hands to
accelerate the pace of bilateral engagements, he said.
Ved Prakash, First Secretary,
Embassy of India in Moscow, in his opening remarks,
expressed gratitude for the organisation of the meeting on
medical devices. Rohit Neema, Second Secretary, Indian
Embassy in Moscow, promised his support for facilitating
trade and cooperation in the medical device sector between
India and Russia, recognising the sector's potential for
economic growth and job creation.
Nath through his presentation
of a comprehensive analytical document titled ‘Medical
Devices –The next big thing after IT and Pharma’ showcased
the latest trends and the year-on-year growth in exports
and also introduced the audience to the domestic champions
from various segments who have achieved great heights
under the guidance of policies enacted by the Indian
government.
Prasun Prakash, Founder,
DRISP, alongside moderating the discussion, pointed out
the right timing for the exchange of technology, critical
data, knowledge base, human resource and expertise in the
sector considering the latest geopolitical trends and the
growing interest inside Russia towards establishing
strategic partnerships with Indian manufacturers.
Denis Stepanov, General
Director of CES Spine Medics, Russia, highlighted the
potential for Indian medical device manufacturers entering
Russia. He said that there are opportunities in the
market, such as the interest from manufacturers and the
need for high-tech and high-quality medical products. He
also addressed the challenges, including the registration
process, competition from Chinese and Turkish
manufacturers, and the need for international
collaboration.
Ashish Rangra from Invest
India made a detailed presentation on the Indian medical
devices sector, covering its current valuation, projected
growth, key segments, import dependency, and the
government’s initiatives and incentives. He also discussed
the upcoming manufacturing infrastructure, including the
introduction of four new parks and success stories of
companies investing in India.
About AiMeD
.AiMeD is an Umbrella
Association of Indian Manufacturers of Medical Devices
covering all types of Medical Devices including
Consumables, Disposables, Equipments, Instruments,
Electronics, Diagnostics and Implants. With a Primary
Membership of over 300 Manufacturers and additionally of
over 200 Associate Members representing the interest of
over 1200 Manufacturers of Medical Devices to address the
manufacturer’s problems.
The aim behind forming AiMeD
is to allow the Indian Government to access a single point
of contact and provide various services to the
manufacturers like Advocacy on policy issues, Information
services, Regulations for Medical Devices, Education and
Training, services, Testing Assistance and guidance for
Quality Certification (ISO, CE, GMP), advocacy and much
more.
Ref : Website:
https://www.aimedindia.com/
AiMeD Demands
Separate Pricing Mechanism For Medical Devices Industry
The medical devices industry
has reiterated that it needs a separate pricing mechanism
and a separate regulatory framework from how drugs are
regulated in the country, in the wake of the Department of
Pharmaceuticals (DoP) constituting a committee to prepare
a draft price control order for both drugs and medical
devices.
"The domestic medical devices
industry wants a separate regulatory framework and a
separate pricing mechanism distinct from how drugs are
regulated in the country," said Rajiv Nath, forum
coordinator of Association of Indian Medical Devices
Industry (AiMeD), the umbrella association of Indian
manufacturers of medical devices covering all types of
medical devices.
"Instead of price control, we
have proposed price regulation based on trade margin
monitoring and then a graded step by step non disruptive
regulatory rationalisation at the first point of entry of
goods into the supply chain where GST is initially charged
on overseas and Indian manufactured medical devices," he
added.
This could be applicable for
imports and also ex factory prices. Indian manufacturers
don't want to be equated with importers for foreign
medical devices, we wish a level playing field with
overseas manufacturers as importers are also distributors
of overseas manufacturers, said Nath.
The DoP has constituted a
Committee to reform the pricing framework for drugs and
medical devices in the country and to prepare a draft
Drugs and Medical Devices (Control) Order. The committee
has to submit its report in three months.
The Committee will have three
core members headed by Arunish Chawla, secretary,
Department of Pharmaceuticals (DoP), with Kamlesh Kumar
Pant, chairman of National Pharmaceutical Pricing
Authority (NPPA) and Awadhesh Kumar Choudhary, senior
economic advisor, DoP as members.
It will have two special
invitees from the industry, one each from the Indian
Pharmaceutical Alliance (IP Alliance) and Indian Drugs
Manufacturers' Association (IDMA). The Committee will be
free to invite anyone for seeking technical inputs or
placing its views before the Committee.
The committee shall look into
various aspects including the institutional reforms
required for the NPPA, how to balance price and
availability of essential medicines, while providing
incentives to the industry to sustain growth and exports,
how to design a price moderation framework for medical
devices, while providing incentives to the industry to
sustain growth and minimise imports, and how to design a
price moderation framework for emerging and precision
therapies to facilitate their timely reach to the needy
patients.
The Committee is expected to
come out with a draft Drugs and Medical Devices (Control)
Order to achieve these objectives.
Recently the
Department-related Parliamentary Standing Committee on
Chemicals and Fertilisers has recommended the Department
to take up the matter of price control for medical devices
with the NPPA, for inclusion of medium and high-end
medical devices which are used for critical care of
patients,observing that the devices which are required for
critical care to the patients should be listed under the
National List of Essential Medicines (NLEM).
https://www.pharmabiz.com/NewsDetails.aspx?aid=166948&sid=1,
March 14, 2024 |
