FDI in medical devices policy to come into effect from Jan 21

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The government decision to permit 100 per cent foreign direct investment in medical devices will take effect from January 21, the Commerce and Industry Ministry said.

The Union Cabinet last month approved liberalising FDI policy for the cash-starved medical devices sector, said the media report.

As per the decision, FDI up to 100 per cent through automatic route has been permitted for manufacturing of medical devices in the country.

"The decision will take effect from January 21, 2015," the ministry said in a press note.

Easing of norms for medical devices industry by creating special carve out in the extant FDI policy on pharma sector will encourage FDI inflows in this area.

Medical devices include any instrument, apparatus, appliance, implant, material or other article, whether used alone or in combination, including the software intended by its manufacturer to be used specially for human beings or animals for one or more of the specific purposes.

Story first published: Tuesday, January 6, 2015, 23:00 [IST]
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