Greater Noida: Yeida to hire consultant for medical devices park
The consultant will be tasked to assist the authority in drawing investments, promotional activities, obtaining approvals, and project monitoring for the existing and upcoming industrial parks
The Yamuna Expressway Industrial Development Authority (Yeida) on Tuesday said it has started the process to hire a consultant to help with the investment promotion and project monitoring of the medical devices park, which is being developed in Sector 29, near the greenfield Noida international airport, along Yamuna Expressway.
The consultant will be tasked to assist the authority in drawing investments, promotional activities, obtaining approvals, and project monitoring for the existing and upcoming industrial parks.
“The consultant will help in promoting the Yamuna authority at the national and international level; identifying potential investors; and creating a respective databank of investors. The consultant will also work together with the authority in organising road shows in different states and countries to draw investors to the region,” said Arun Vir Singh, chief executive officer, Yeida.
The request for proposal (RFP) document said the medical devices industry is highly capital-intensive and requires the development and induction of innovative technologies so that products to be made here can compete with international level products.
“Most of the innovative hi-tech products are made in well-developed ecosystems and innovation cycles that are yet to be developed in India. As a result, the industry depends on imports of up to 86% and the Centre is also encouraging foreign investments,” said Singh.
The Centre has approved a scheme called “Promotion of Medical Device Parks” on March 20, 2020.
“This scheme encourages the development of medical devices parks in the country by providing grant-in-aid as per the procedure defined in the guidelines. We have been nominated as the state implementing agency (SIA) to develop the Uttar Pradesh medical devices park in the Yeida region. And we were the first to become such an agency in the country. This park will be north India’s first dedicated medical devices park, spread over 350 acres in Sector 28,” said Singh.
The Centre approved a grant-in-aid of ₹100 crore for the development of common infrastructure facilities (CIF) in this medical devices park. The CIFs include a central warehouse, convention & exhibition centre, centre of excellence, skill development and incubation centre.
Last week, Yeida launched a scheme offering 27 plots in Sector 28 for the medical devices park, suitable for allotting industrial plots of up to 4000 square metres.
The officials said investors must be engaged in the manufacturing of instruments, apparatus, machines, appliances, implants, in vitro diagnostic reagents, software, etc., used for human purposes. This includes devices for cancer care, radiotherapy, radiology, imaging, anaesthetics, and cardio-respiratory applications. The allotment rate is ₹7,360 per square metre in the ongoing scheme.