Latest news with #AiMeD
Hans India
5 days ago
- Business
- Hans India
AiMeD lauds govt's progressive reforms in public procurement
The Association of Indian Medical Device Industry (AiMeD) on Tuesday praised the government for progressive reforms in public procurement and the robust judicial support that ensured the reiteration of the country's commitment to Atmanirbharta in healthcare which became a national imperative post-Covid. With policy, regulations, and the judicial framework now aligned, Indian manufacturers look forward to a level playing field for tenders. "We heartily welcome the initiatives of the Government, the policymakers, and the Judiciary in driving a long-overdue move towards fairness in procurement," said Rajiv Nath, Forum Coordinator, AiMeD. "The word is now loud and clear: preference to foreigners over Indians is not only archaic -- it is no longer legally tenable," Nath added. His comments come as the European Union (EU) members on Monday voted to restrict imports of Chinese medical devices, delivering a blow to a key industry under Beijing's high-tech manufacturing strategy. Nath noted that the Indian government has issued a series of consistent and unabashed directives not to discriminate against Indian manufacturers. The Department of Pharmaceuticals cautioned against the exclusion of homegrown manufacturers simply for lacking foreign regulatory approval certifications such as USFDA or CE. 'AiMeD welcomes each of these as groundbreaking measures towards a more inclusive and self-sufficient procurement system,' Nath said. It also cited the Supreme Court's 2025 judgment in the Gwalior Municipal Corporation case which deprecated exclusionary clauses assuming Indian incapability by multinationals. Although the case dealt with municipal procurement, the judgment established the general principle of fairness in competition, and by extension, a precedent that can be applied across industries. "This judicial clarity provided an additional boost of confidence to the manufacturers in India and sends an emphatic message to the tendering authorities to introspect and improve," said Nath. "With policy, legislation, and industry capability now aligned, we think this is a watershed moment for manufacturers domestically. "Particularly for those innovating diagnostics, surgical, and therapeutic devices, this is a window of opportunity to scale impact," he said.
Hans India
27-05-2025
- Business
- Hans India
India's rise to 4th largest economy will boost manufacturing, MedTech: AiMeD
New Delhi: With India on the brink of becoming the world's fourth-largest economy, the milestone will boost the country's manufacturing and medical technology sector, according to the Association of Indian Medical Device Industry (AiMeD) on Tuesday. NITI Aayog on Monday said India is set to become the fourth largest economy in the world by overtaking Japan by the end of 2025. The International Monetary Fund (IMF), in its World Economic Outlook (WEO) report released in April, said that India is expected to be the fourth largest economy in the world with a GDP of $4.19 trillion in 2025, ahead of Japan. For the medical devices sector, the achievement will boost indigenous manufacturing and self-reliance, said Rajiv Nath, Forum Coordinator of the AiMeD. 'A growing economy allows us to scale up R&D, invest in new technologies, and become globally competitive,' Nath said. 'The recognition of India as a top-tier economy will boost investor confidence, drive global partnerships, and open doors for Indian manufacturers to lead not only in volume but in innovation and quality,' he added. The World Economic Outlook (WEO), released by the IMF in April showed that India's GDP for the full year 2025, would become higher than that of Japan. As per IMF data, India's per capita income doubled to $2,880 in 2025 from $1,438 in 2013-14. The country's nominal GDP for 2025 (FY26) is expected to be $4.187 trillion marginally more than the likely GDP of Japan -- estimated at $4.186 trillion, the IMF said. Calling it a moment of immense national pride and global recognition, Nath said the milestone marks India's transition from being seen as an emerging economy to becoming a global economic powerhouse. 'Japan has historically been a symbol of industrial excellence and discipline, and to surpass such a formidable economy signals India's growing economic maturity, expanding influence, and increasing role in shaping global narratives. This isn't just about the numbers -- it's about momentum, demographic strength, and the vast untapped potential of India's young and dynamic population,' said Nath. Nath also emphasised shifting the focus toward improving per capita income, enhancing the quality of life, and creating inclusive growth. 'We must ensure that this economic rise translates into meaningful development at the grassroots level, across rural and urban India alike,' he added.
