Global Collaboration - Ireland and India
14/9/2021
On 1st October, Mr Akhilesh Mishra takes on the mantle of Indian Ambassador to Ireland. Just before the beginning of his tenure, Indian Ambassador-Designate, Akhilesh Mishra, has already started engaging with different stakeholders of the Indo-Irish community.
According to IBEF
Market Size in India is among the top 20 markets for medical devices worldwide. India’s medical devices market stood at US$ 11 billion in 2020 and is expected to reach US$ 65 billion in 2024. India has a 75-80% import dependency on medical devices, with exports at Rs. 14,802 crore (US$2.1 billion) in 2019 and is expected to increase at a CAGR of 29.7% to reach Rs. 70,490 crore (US$10 billion) in 2025. To increase export of medical devices in the country, the Indian Ministry of Health and Family Welfare (MOHFW) and Central Drugs Standard Control Organisation (CDSCO) implemented the following initiatives: re-examination and implementation of Schedule MIII (a draft guidance on good manufacturing practices and facility requirements); system for export labelling; clinical evaluation and adverse reporting clarification; state licensing authority to extend free sales certificate validity from 2 years to 5 years to allow exports; create a list of manufacturers with export licensing for easy access by regulatory authorities worldwide.
In order to act as a bridge between these government initiatives and promoting Indian Medical Devices to the EU, Mr Jay R. Shah – Communications Officer at Med-Di-Dia limited, invited Mr Akhilesh Mishra for a virtual discussion aimed towards creating a link between MedTech Innovators and Opportunities in the European Union.
Med-Di-Dia is a regulatory and quality compliance consultancy firm supporting Medical Device, In-Vitro Diagnostics and Digital Health companies from Galway, Ireland. They provide services in order to represent medical device manufacturers in the capacity of European Union Authorised Representative [Requirements as per the EU MDR]
Med-Di-Dia’s Director Mrs Greer Deal extended a warm welcome, saying, “We embrace the opportunity to work with Akhilesh Mishra not only now but also when he takes on the responsibility of being Indian Ambassador to Ireland. There are many synergies between the two countries and we are delighted to be at the start of the journey towards building a stronger bridge between Ireland and India in order to develop a highly educated and innovative MedTech sector across the two territories.”
Moreover, Med-Di-Dia’s Founder Mr Bobby Deal, highlighted his particular interest and passion “to share our regulatory knowledge and expertise with the next generation of professionals. In this way, we can help to lay down good foundations for continued growth and fully support Indian and Irish MedTech entrepreneurs in fulfilling their dreams to improve the quality of care in our respective healthcare systems.”
“Being an Indian Citizen, it is a privilege for me to work for Med-Di-Dia where they can provide genuine help and services to the young minds and MedTech Innovators in India”, says Jay R. Shah
In the coming days, these relations will prove to be beneficial for the Indian MedTech Industry. This is just a small step through which Indian MedTech Entrepreneurs and companies can expand themselves into the European Union.
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