On 21 March 2020, the Indian Union Cabinet of Ministers approved two schemes for promoting domestic manufacturing of medical devices.

A scheme to promote the development of 4 Medical Device Parks that will provide Common Infrastructure Facilities to the device manufacturers has been announced with a corpus of INR 400 crore (~USD 53 million*). The Parks will be developed at the state level and a maximum grant of INR 100 crore (~USD 13.25 million*) will be provided per Park.

The expenditure under the scheme will be incurred over a period of 5 years - 2020-21 to 2024-25. The Indian fiscal year begins on 1 April of the year and the scheme will be applicable from 1 April 2020.

* INR to USD conversion as on 21 March 2020 - INR 75.42 / USD