Even as the Union Cabinet on Wednesday (26 April) approved the National Medical Devices Policy, 2023, the Yamuna Expressway Industrial Development Authority (YEIDA) has fast tracked its upcoming Medical Device Park at Sector 28.
This comes in the backdrop of the Authority clearing the decks for 26 land allottees to set up their production units at Medical Device Park by handing them over land parcels.
Spread across an area of 350 acres, the Medical Device Park (MDP) will be northern India’s largest such facility. It’s aimed at attracting an investment of Rs 15,000 crore and creating employment opportunities for 7,000 people.
Located in Sector 28 of YEIDA region, the Medical Device Park is situated barely 3 km from the upcoming Noida International Airport (NIA) at Jewar in Greater Noida and is well connected with the neighbouring cities of Delhi-NCR by excellent road network.
The YEIDA has so far allotted 59 plots through a draw process — 37 in phase 1 and 22 in phase 2.
Out of this, 26 land allottees were handed over land deeds, lease plans and other document on Wednesday which would enable them to set up their production units at the MDP.
The plots assigned to allottees vary in size — 1,000 sq metre, 2,100 sq metre and 4,000 sq metre.
The top five allottees with 4,000sq metre plots are — Auzein Medical Pvt Ltd (for establishing an orthopaedic implant unit with an investment of Rs 18.15 crore), Heidelco Medicore Pvt Ltd (for setting up an automated external defibrillator and oxygen concentrator unit with an investment of Rs 24 crore), Q Line Biotech (for setting up a similar unit), Ramsons Group (for setting up anaesthesia needle and kit unit worth Rs 15 crore), and Genuince Medica Pvt Ltd (for setting up of anaesthesia workstation unit worth Rs 18.5 crore).
About The Park
The state government had conceptualised the MDP in YEIDA region to address to the key concerns of Indian manufacturers which primarily include access to cost effective testing and scientific facilities. Subsequently, the MDP got in-principal approval from the Government of India on 24 September 2021.
Besides providing incentives to allottees in terms of capital interest subsidy, stamp duty and air cargo handling, the allottees in the proposed park will also get subsidised electricity, water, warehousing and reimbursement related to skill development, patent and quality certification.
While works related to the external and internal development of the Medical Device Park have been almost completed, the administrative block is under construction and the construction of the common facility centre (CFC) is likely to start soon.
The Central government has allotted Rs 100 crore for this purpose.
The Department of Pharmaceuticals implements the scheme ‘Promotion of Medical Devices Parks’ to provide financial assistance to state governments for the setting up of Common Infrastructure Facilities (CIFs) in the medical devices parks being developed by the states. The total financial outlay of the scheme is Rs 400 crore and the maximum assistance under the scheme per state is limited to Rs 100 crore.
Further, the Union Commerce Ministry is working to establish an export promotion council at the park to facilitate the allottees in export documentation, and getting export and other grants.
Officials said allottees will have to pay the total cost of the plot within five years. However, they will have to make their unit operational in two years after getting possession of the plot.
With a rising import bill of Rs 63,000 crore and 80 per cent import dependence, the medical devices industry “is the next big profitable opportunity” for India, after the IT and pharma sectors, to support employment and the economy.