Government may approve FDI in medical devices; Opto Circuits surges
This will be a move towards making the country self reliant in the area of medical devices. India depends largely on imported medical devices as of now.
By ET Online | Updated:
MUMBAI: The government is in final stages of approving FDI in medical devices after it took a decision to segregate medical devices from pharmaceuticals, reported Neha Sethi of ET Now.
This will be a move towards making the country self reliant in the area of medical devices. India depends largely on imported medical devices as of now.
The government is likely to allow 100 per cent FDI in medical devices through automatic route in brown and as well as green field.
Foreign companies will be allowed to manufacture products in India and also takeover existing plants.
As of now, India imports more than 60 per cent of medical devices.
Bangalore-based Opto Circuits, a medical device company, closed at Rs 23.35, up 9.62 per cent, on the BSE. It touched a high of Rs 23.80 in trade today.
This will be a move towards making the country self reliant in the area of medical devices. India depends largely on imported medical devices as of now.
The government is likely to allow 100 per cent FDI in medical devices through automatic route in brown and as well as green field.
Foreign companies will be allowed to manufacture products in India and also takeover existing plants.
As of now, India imports more than 60 per cent of medical devices.
Bangalore-based Opto Circuits, a medical device company, closed at Rs 23.35, up 9.62 per cent, on the BSE. It touched a high of Rs 23.80 in trade today.
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