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Govt okays 100% FDI in medical devices via automatic route

This comes as a major positive for Indian companies as India currently imports over 70 percent of medical devices.

Govt okays 100% FDI in medical devices via automatic route

The government on Wednesday approved 100 percent foreign direct investment (FDI) in medical devices via the automatic route. Currently FDI in pharma exists, albeit with certain riders.

This comes as a major positive for Indian companies as India currently imports over 70 percent of medical devices.

Himanshu Baid, managing director,  Poly Medicure says this is a significant move as approvals for FDI used to be delayed by months and years earlier.

“Companies had to go through the Foreign Investment Promotion Board (FIPB) earlier as medical devices came under the drug category. This automotive route will help companies receive approval way faster than earlier, he adds.

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