Cabinet approves setting up of India's first medical park

 05-Oct-16, The Times Of India

Giving a push to local production of hi-end medical equipment, the government gave its nod to PSU HLL Lifecare to sub-lease over 300 acres of land in Chennai to set up the country's first medical devices manufacturing park.

Image: PTI

The Union Cabinet chaired by Prime Minister Narendra Modi gave its nod to the PSU under the Health Ministry to sub-lease 330 acres of land at Chengalpattu near Chennai to set up the Medipark through a Special Purpose Vehicle (SPV) with shareholding of HLL at 50 per cent.

"The Medipark project will be the first manufacturing cluster in the medical technology sector in the country, envisaged to boost local manufacturing of hi-end products at a significantly lower cost, resulting in affordable healthcare delivery," an official statement said.

The proposed Medipark would contribute to development of medical devices and technology sector and allied disciplines in the country, which is still at a nascent stage besides generating employment and give a boost to the government's "Make in India" campaign.

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