Govt Schemes for Medical equipment companies
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Government Schemes for Medical Equipment Companies
The market for medical equipment is getting bigger with time. It is profitable and one of the most demanding businesses in India. To make all of the medical equipment in India, the government has taken the initiative o support the medical equipment manufacturers. With the help of two major schemes, medical equipment companies can do a lot. Both of the major schemes are financial scheme which supports the manufacturer financially. Production Linked Intensive Scheme and Promotion of Medical Devices Parks Scheme is specially designed for the Medical Equipment companies. Let’s know what these schemes have offered.
Production Linked Intensive Scheme
This scheme offers financial support to the company to manufacture more medical machines like cancer care machines, radiology machines, imaging devices, implants and anesthetic devices. The scheme also undertakes to manufacture of Pharmaceuticals which are necessary for every day. The blooming medical industry in India has made the government work towards made-in-India medical equipment.
The scheme provides a 5% incentive on incremental sales for every financial year. You can take benefits from this scheme for over 7-8 years. It depends on how your business is growing. To apply for this scheme, your business should have reached certain milestones. In addition, it has to have the minimum amount of sales and a specific amount of investment. If you meet the criteria, you may apply for the incentives and other benefits from this scheme.
Promotion of Medical Devices Parks Scheme
Under this scheme, the government is trying to provide a comfortable ecosystem to run the manufacturing of medical equipment business. It takes a lot to make medical equipment in India. To ease out the process. With the help of this scheme, manufacturers can get the work done a lot faster with financial support.
The tenure of this financial support is about 4-5 years. The incentive is huge, which is 100 crore per park, and that is insane. But the growth of made in India Healthcare devices market will grow together. You can set up the park in 4 different states, which makes the scheme more interesting. You can get a grant of 70% of the entire cost. That is why it is considered one of the best schemes that support medical equipment companies.
How can you apply for these two schemes?
Both of the schemes mentioned above are quite interesting and beneficial. To know more about the schemes and identify how you can benefit from them, consult with our experts. They have been working in the market for over a decade, and they have seen the fall and rise of the industry. That is why we can provide you the best suggestion. We also help in applying for the schemes. Make sure to provide all documents that we ask for to get the work done quickly. You can also talk to our consultant to get the initial idea and bring in benefits from the market. Don’t forget to contact us if you want expert professionals to apply for the same.
