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Shardul Nautiyal, Mumbai September 10 , 2020
Industry experts suggest that focus on local manufacturing will lead to price competitiveness and innovation towards making India self-reliant. Self-reliance will further create a robust manufacturing setup propelled with recent government road map to incentivize medical device and bulk drugs with production linked incentive (PLI) schemes.

New medical device rules will further boost domestic medical devices industry as unregulated medical devices will have to be registered by respective importers or manufacturers with the Drugs Controller General of India (DCGI). The government today wants to ensure quality and safety of notified medical devices by a mandatory license regime.

“A license is issued only after quality checks, which implies higher quality standards for medical devices and medical equipment in India. The higher quality requirement will only improve innovation standards even though pricing and margin may differ from company to company,” said Satyendra Johari, founder & chairman, Johari Digital Healthcare Ltd.

According to domestic industry, Prime Minister Modi has set the stage by giving a clariant call for self- or reliance “Atmanirbhar Bharat” for Indian companies to boost local manufacturing.

“A large chunk of India's population is in the age bracket of 20 years to 40 years, country has the human capital, need of the hour is to invite many capable Indian companies to set shops in India which will help us become a manufacturing capital of the world, Indian businesses and start-up need to seize the moment. The government of India has already given relief to multiple sectors earlier in the month of May 2020,” Johari further added.

It has been learnt that the government may be considering another economic relief package in a bid to boost economic activities and growth rate. Further ease in labour laws, focus on ease of doing business will certainly help boost business sentiment, he further explained.

Talking about digitizing healthcare for its accessibility, “Proper awareness, availability and accessibility is something the government should focus on in the pilot phase, so the leanings can be implemented during the full rollout of National Digital Health Mission (NDHM). NDHM will revolutionize the healthcare sector in India as there are multiple opportunities for the government to improve healthcare, access to the poor and people in remote areas of the country. Successful implementation, pan-India rollout, and private participation is key to overall success for NDHM.”

Labor law reforms are crucial for industrial growth as too many laws only complicate things. The need of the hour is to have simplified laws which help make compliance easy for industries and benefits labor in the long run. Due to the pandemic, a lot of activities are happening via the digital route. Labor inspection can also happen via video-conference (VC). Related documents can be uploaded on a common portal for inspection, he concluded.

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