6 Reasons to Choose India as Medical Device Manufacturing Destination
The changing realms of medical device manufacturing in India tend to favor small and big-size medical device, manufacturers. The Indian government has cleared numerous roadblocks in the process to scale up & attract investments from around the globe. Niti Aayog, the think tank of India is developing strategies to culminate a bigger portfolio and generate higher revenue from medical device manufacturing.
Under the Make in India initiative, the government has planned to set up their manufacturing clusters in several states across the nation. To acknowledge and address the growing concerns of the medical device market it’s important to find a way to manufacture cost-optimized solutions at a reasonable price.
The dynamic shift in the global outlook of the country catalyzes the process of driving bigger medical manufacturing giants in India.
Why big giants are turning towards India for manufacturing?
The root causes attracting the contract manufacturing/OEM towards India are:
- Daunting costs of labor and raw materials in China, Japan, and various other manufacturing hotspots.
- Complex supply chain across other regions when compared to India
- Unfair and unfavorable trade policies
- IP protection issues in different places
- The technological landscape requires a major investment in other countries as compared to India.
