Official reports suggest 59 companies have received a land allotment in the medical device park near Noida. Don’t forget these firms will be investing a sum of Rs 415 crore to set up their business operations.
Needless to say, the launch of such businesses with increased amounts of investment will ultimately create nearly 5,000 job opportunities for locals.
Medical Device Park: Location & More Information
So, where’s the new medical device park located?
For those looking for an answer to this question, the medical device park is in sector 28, YEIDA and is planned to cover a total area of 350 acres.
The latest news confirms the allotment letters were issued to the allottees on 26 April by the Yamuna Express Industrial Development Authority (YEIDA).
It seems government officials are pretty confident in the potential of the newly launched medical device park, expecting it to manufacture cutting-edge medical equipment and create thousands of job opportunities. Of course, it will prove increasingly beneficial for India’s economy.
Here’s a list of diverse and equally valuable medical devices that will be manufactured here:;
- Cancer care equipment
- Nuclear imaging device
- Video colposcopy machine
- Orthopaedic implants
- Spinal implant
- Oxygen concentrator
- Anaesthesia needle and kit
- Anaesthesia work station
- X-ray machine
- Gastrology medical device
- Biliary stent
- ICU ventilator
- ECG machine
- Trauma management implant
- Coronary stent
- Hemodialysis kit
- Heart-lung bypass kit
- Chemotherapy device
- Radiology device
- Intraocular lens
Arun Vir Singh, YEIDA CEO, believes the development of two flatted factories by the authority will favour industrialists with lower budgets. Plus, it will enable small and medium organisations to set up their businesses without constraints and contribute to the growth of the state’s medical device sector.
Apart from promoting the country’s economy, these initiatives will also boost the state’s economic position and bring down the unemployment rate significantly.
Current Status of The UP Medical Device Park
As far as the current status of the medical device park in Uttar Pradesh is concerned, its external development has been completed. However, internal development, including the construction of infrastructure facilities, is in progress.
Furthermore, YEIDA has allotted a total of 37 plots for the first phase of the medical device park. It’s interesting to note here that YEIDA was nominated as the State Implementation Agency for developing the medical device park in Uttar Pradesh by the Department of Pharmaceuticals, Ministry of Chemical & Fertilizers, Government of India.
In addition to this, the central government has also provided a Grant-in aid of 30 crores under the Promotion of Medical Devices Park scheme. It is safe to say that this project is on its way to changing India’s economy in the long run.
Incentives For Allottees of The UP Medical Device Park
Here’s a list of the incentives the Industrial Development Department will be providing to the allottees to develop manufacturing factories at the new Medical Device Park:
- SGST Reimbursement
- EPF Reimbursement
- Capital Interest Subsidy
- Air Cargo Handling charge and Freight incentive
- Quality Certification
- Stamp Duty
- Zero Waste Incentive
- Incentivising employment generation
- Patent Filing
- Skill Development Incentive
- Utility charges
- Marketing assistance
These incentives will ultimately encourage developers and businesses to set up their manufacturing units at the park.
List of Facilities
Moving on, it’s time to look at the list of facilities planned to be provided in the Medical Device Park in sector 28. The park will have the following facilities:
- Convention exhibition centre
- Central warehouse
- Effluent treatment plant
- Sewage treatment plant
- Centre of Excellence, Skill Development and Incubation Centre
- Administrative office block
- Uttar Pradesh MedTech Zone
- Licensing authorities and export
The park will have a bank, public utilities, a gym, a recreational area, a food court, showrooms, and a Common Office Complex.
Noida is clearly moving ahead with its groundbreaking developments, so what’s stopping you from investing in luxurious apartments in Noida and being a part of this trailblazing city.
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