Leading MedTech companies launch Medical Technology Association of India (MTaI)

Founded in India with an aim to accelerate the growth of medical technology sector, this association mainly represents key research based multinational companies with significant investments in the country

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(File photo) Ongoing meeting of Board members and regulatory and govt. affairs team MTAI.

New Delhi: Launched on August 28, 2016, the Medical Technology Association of India (MTaI – Pronounced Em-tai) is a duly registered body pursuant to sub-section (2) of section 7 of the Companies Act, 2013 and rule 8 of the Companies (Incorporation) Rules, 2014.

MTaI is an association of research based medical technology companies who have made remarkable investments in India. Their members have large number of R&D centres and medical technology manufacturing plants in India. The founding member companies include major names such as Johnson & Johnson, Bausch & Lomb, Smith & Nephew, C R Bard, Terumo, Boston Scientific and Vygon. Several other members have joined since.

As per the statement issued by MTaI Secretariat, it represents the entire spectrum of medical device and equipment industry in India with global experience in innovation and Manufacturing. MTaI looks to partner with Government of India in setting a roadmap for growth of medical devices sector by bringing in even bigger investments in this sector, through ‘Make in India and through technology upgradation and dissemination in the provider space. The association mentions that it has been all the time stressing on quality, consistency and patient safety-the three hall marks of success in this sector; and proving to be the responsible voice of the Medical Technology Industry.

MTaI has triggered the engagement with the Prime Minister’s Office for the Medical Technology Industry. They have also been actively involved with all the key stakeholders such as Niti Ayog, Ministry of Health & Family Welfare, Department of Pharmaceuticals, Ministry of Commerce and Industry amongst others.

As per Mr Pavan Choudary, Director General, MTaI, “The Medical devices industry has huge potential to not only be able to significantly contribute to GDP of the country but also to the dream of Healthy India. The key industry players in India that include global and indigenous manufacturers and importers, have together contributed to growth of the sector.”

Mr Choudary further stressed on the fact that the global players in this sector have also contributed significantly by bringing basic and advanced medical technologies to address patient needs in India, by investing in training of medical fraternity and thus creating the market, by bringing FDI and technology, by entering manufacturing due to consistent signals received from the Government so far. “It is also due to the ready availability of state of the art medical technology, that healthcare outcomes of many of our hospitals are comparable to many global healthcare providers like John Hopkins and M D Andersen University. This helps India not only save precious foreign exchange which was earlier spent for treating Indians abroad but also attracts a couple of billion dollars in medical tourism every year,” he elaborated.

The MTaI release mentioned that the medical tourism has been made possible in a good measure because of the free cross border flow of technologies, especially after the reforms and the recent announcement of 100 per cent FDI in medical devices industry. It also praised the efforts of Indian companies by mentioning that the indigenous manufacturers have also contributed significantly. It stated in detail, “They have innovated and developed low cost devices and are also earning foreign exchange through exports. The policy makers and the regulators need to nurture both these groups in such a way that the ‘Make in India’ program continues for those sub sectors or product categories where a high level of import substitution of an acceptable quality has been obtained or can be obtained quickly.”

Mr Pavan Choudary also lauded the efforts of government for the overall development of the sector. “MTaI recognizes the efforts which government is making for the development of this sector. It is proud and simultaneously grateful for the fact that the PMO is directly nurturing it, that the MOHFW, Department of Pharmaceuticals, Ministry of Commerce, DIPP and CDSCO are all working in a spirit of inclusiveness which is ensuring that each responsible voice gets a hearing and due consideration,” he opined.

According to MTaI, its goal also includes the promotion of good business practices in the industry. In that direction, the association says that it has not only adopted the enclosed internal code of conduct but also seeks Ethics/Corporate governance policy from each of its members.