Government Eyes Regulatory Reforms in MedTech and Pharma Sectors

The government is considering modifying regulatory norms for the MedTech and pharma sectors with industry inputs, as revealed by Niti Aayog member VK Paul. Speaking at an Assocham event, Paul emphasized the need for updated regulations to foster advancement in frontline technologies and enhance exports, aligning with India’s 2047 development vision.

The government is contemplating revisions to regulatory norms for the MedTech and pharmaceutical sectors, inviting industry contributions for this initiative, disclosed Niti Aayog member (Health) VK Paul during an Assocham event on Tuesday.

With evolving times, there's a compelling need to update the regulatory framework, he highlighted. Under the principal scientific adviser's guidance, regulatory enhancements for medical technology and pharmaceuticals are currently under active consideration, Paul stated. Industry participation is crucial to refining the system.

Paul indicated that the aim is to stay open-minded while acknowledging existing improvements even within classical frameworks, particularly in cutting-edge fields like cell and gene therapies and integrated systems. Additionally, Paul addressed the importance of boosting exports in line with India's goal of becoming a developed nation by 2047. He noted that India should not only aim to be the largest diagnostic market but also a significant creator of technology in the sector. He cited the Medtech Mitra initiative by the Indian Council of Medical Research (ICMR) as a step towards developing potential diagnostic products.

(With inputs from agencies.)