North India’s medical device ecosystem just got a 350-acre boost

North India’s medical device manufacturing capacity is set to expand significantly with a new 350-acre park coming up in Sector 28 of the Yamuna Expressway Industrial Development Authority (YEIDA) region. Yamuna Expressway Industrial Development Authority additional CEO Shailendra Bhatia told a gathering at the MedTech Investors’ Meet at India Expo Mart on Thursday that the Authority has already allotted 120 industrial plots at the site.

More than 20 companies have already started construction of their manufacturing units there, Bhatia said, describing the upcoming park as a ‘major manufacturing hub’ meant to provide an end-to-end MedTech ecosystem for the entire region.

The park’s location, just 3km from the upcoming Noida International Airport, is expected to connect manufacturers based there to both domestic and global markets once the airport is operational.

Bhatia said the site will also offer common scientific and infrastructural services in one place, including rapid prototyping facilities, artificial intelligence laboratories and a shared warehouse, cutting production costs and speeding up product development for companies located there. Institutions including IIT Delhi, IIT Kanpur, Invest UP and the Export Promotion Council are providing academic and institutional support to the project.

Units at the park will also be eligible for a range of incentives, among them a capital interest subsidy, stamp duty exemption, support for skill development, quality certification and marketing assistance, the additional CEO said.

Interest from investors has so far centred on radiology and imaging, implants, in-vitro diagnostics, anaesthesia and respiratory devices, and cardiology and cancer care, according to YEIDA.

Image: Wikimedia Commons/by Lexington Medical, Inc.