AMTZ signs MoU with ADMI for boosting investment opportunities for Indian IVD industryPublish Date : Nov 07, 2017
Andhra Pradesh MedTech Zone (AMTZ) has signed an MoU with Association of Diagnostic Manufacturers of India (ADMI) for improving access to technological, investment opportunities, and help build strategic, long-term partnership between ADMI and AMTZ.
AMTZ with its one-stop solution across infrastructure, scientific facilities, regulatory help desk and preferential market access is enabling the entire ecosystem for medical devices while ADMI with its focus and expertise in IVD devices will partner to promote the standards of the IVD industry in India.
As per the MoU, AMTZ and ADMI will work together to identify and add Harmonized System (HS) codes for IVD products. This will enable easier classification of IVD products and reduce complexity during their trade.
The MoU was signed by Dr. Jitendar Sharma, CEO, AMTZ and Dr. D. K. Joshi, President, ADMI, during the recent quarterly meeting of members of ADMI at Mumbai.
ADMI which represents companies from the Indian IVD industry will be setting up an office at AMTZ. It will also be contributing towards the proposed National Medical Device Promotion Council (NMDPC)to promote industry and assist with trade barriers. Kalam Institute of Health Technology (KIHT) which is currently hosted by AMTZ will partner with ADMI to enable technology transfer, focused research and development in the IVD sector.
ADMI which aims to provide a platform for the Indian IVD manufacturers so that they can voice their concerns and resolve issues. It also works to foster understanding of the IVD industry within its members and also among all stake holders both nationally and internationally.
AMTZ has been allotted 270 acres to become a hub for ultra modern medical equipment manufacturing. The project is envisaged to attract at least 200 units with an estimated investment of Rs.25,000 crore to Rs.30,000 crore and job opportunities for 25,000 people.
The park will be developed as an Electronic Manufacturing Cluster, the first after the one proposed at Gurrampalem near Pendurthi in Visakhapatanam. AMTZ will be an import substitute for medical devices being brought from the Europe, the US, Germany and China.
The zone will have separate labs for electro-magentic interference/compatibility, gamma irradiation, X-ray/CT scan tube manufacturing, radiated emissions, conducted emission, 3D design, prototyping and rapid tooling facility and central warehousing, exhibition and seminar halls, regulatory offices and export import promotion body.
AMTZ an initiative of the State government to attract medical devices manufacturing units to Visakhapatnam will bring down the cost of healthcare by at least 40 per cent. It has also joined the elite club of BRICS Working Group on Manufacturing from India.
The BRICS is an association of five major economies – Brazil, Russia, India, China, and South Africa. It has seven working groups in the areas of infrastructure, manufacturing, financial services, energy and green economy, skill development, agribusiness, and deregulation under the aegis of the BRICS Business Council.
The BRICS Business Council, which was set up during the Fifth BRICS Summit held in Durban, South Africa in March, 2013 was aimed at creating a platform to promote and strengthen ties among the member countries.