Posted by In recent years, the medical sector of India has seen rapid growth. It has seen a good increase rate in both domestic consumption and export of Indian medical devices. Therefore, the Indian government decided to establish a separate Export Promotion Council (EPC) for medical devices. This decision had been taken to increase the exports of Indian medical devices. This EPC would help the medical device exporters to promote their goods & products in various foreign markets through a lot of promotional activities that include participation in international trade fairs, organizing buyer-seller meetings, and getting in line with the Indian Foreign Policy.
Moreover, another important duty of the Export Promotion Council is to organize different awareness campaigns to promote these Indian medical exports.
How India sets up the export promotion council for medical devices under DoP
The government of India planned to set up a separate export promotion council for medical/surgical devices with the primary goal of helping medical exporters to increase their exports by providing them with correct information, support devices, and training.
This decision was taken due to detailed considerations in the meetings held by the Department of Commerce (DoC) concerning the creation of an EPC for medical devices. It will be established in YEIDA, Greater Noida in Uttar Pradesh. The council will have its regional offices in Andhra Pradesh, Visakhapatnam, and Hyderabad. The Indian government is planning to invest around Rs 3 crore in this project. They are also providing a free office for the council which is around 5000 square ft area at the Medical Devices Park Common Facility Centre in Greater Noida and the needed central staff.
It was decided by the Indian government that YEIDA shall provide suitable office space in their current building for the EFC until the completion of their official space. The regional office at Visakhapatnam is likely to be established by the end of 2023 and the one in Hyderabad will be completed by the end of 2025. Both of the state governments in these respective states must facilitate the establishment of regional offices.
The Export Promotion Council for medical devices will be under the administrative control of the Department of Pharmaceuticals which is managed by the Ministry of Commerce and Industry, India. All its administration decisions will be taken by an administration committee that will be composed of both the nominated and elected members from the government and the medical device industry.
The decision for establishing the Export Promotion Council (EPC) was taken after seeing the rapid increase in the number of Indian medical devices exported in the last two years. Last year, a total of 19,736 medical devices were exported from the country whereas this year the number went up to 23,766. Another reason for establishing the EPC is that the Pharmaceutical Export Promotion Council has been a huge triumph in helping to enhance the country’s pharmaceutical exports which are almost around $25 billion in the financial year 22.
Functions of the Export Council Promotion (EPC)
The primary functions of the Export Promotion Council (EPC) are:
- It is established in order to provide all the necessary guidance and assistance to the medical device exporters in our country.
- Another important function of the EPC is to undertake various promotional activities to create awareness about Indian medical devices in various foreign markets.
- The EPC must provide all the important information and intelligence to exporters on regulatory issues, technical standards, and other exporting issues.
- The EPC must be able to convey the interests of the Indian medical devices industry in international conferences and meetings.
- Another major work of the EPC is connecting with other stakeholders to address challenges faced by the industry such as problems related to manufacturing, trade barriers, and quality standards.
Advantages of having an Export Promotion Council in India
Exporters can have several benefits if they have a proper export promotion council in India. Let us check them out.
Focused Attention
A separate council for medical devices has become important for India because it would bring a more focused strategy to promote the export of Indian medical devices. The Export Promotion Council will have a clear understanding of what the medical device industry exactly needs and it will also be prepared with the best ways to promote the export of medical devices in various international markets.
Specific Expertise
A separate export promotion council for medical devices would have precise expertise in the medical device industry. This would help our country’s government to understand the nuances going on in this industry and they will be able to promote the export of medical devices more effectively by solving the various problems in a shorter duration.
Better Coordination
A separate council is the best choice when it comes to coordinating with other organizations and government bodies in a more effective way. Having a separate body to handle everything related to medical exports would allow for a more cohesive method for the promotion of medical devices export and ensure that the best strategies are being applied to increase the exports of this industry.
More Focused and Precise Policies
Another benefit of having an Export Promotion Council for medical devices is that it would develop policies that are precise to the medical device industry. This will make all the policies more targeted and it will be very effective in promoting exports.
Higher level of competition
When you have a separate council, it will be able to easily figure out and address certain challenges that are being faced by the medical device industry every year. This will also be very helpful as it will enable the government to form better strategies that will improve the competitiveness of the medical device industry, which would increase the number of exported goods & products.
Conclusion
The introduction of the Export Promotion Council for medical devices is a very notable step taken by the Indian government to increase the exports of the medical device industry. The council comes with a lot of benefits for the exporters of this industry. Apart from this, the Indian government has also launched various schemes such as the Advance License Scheme, EPCG scheme, etc for the export industry that all the exporters must be aware of. Overall, we can conclude by saying that a separate EPC for medical devices can be considered an effective method to promote Indian exports in foreign markets and support India’s economic development.