As many as 59 companies have been allotted land in the upcoming medical device park near Noida, a city in northern India, and these firms are expected to invest around Rs 415 crore in setting up their businesses, officials have said.
The medical device park is set to be built on an area of 350 acres in Sector 28 along the Yamuna Expressway near Noida in Gautam Buddh Nagar district. Yamuna Expressway Industrial Development Authority (YEIDA) handed over allotment letters to the allottees on April 26.
This new investment is expected to create direct employment opportunities for about 5,000 people in the region, according to officials.
The medical device park will not only manufacture medical devices but also create employment opportunities on a large scale, a UP government official said.
The list of medical devices that will be manufactured at the park is quite extensive and diverse, and includes orthopedic implants, oxygen concentrators, anaesthesia needles and kits, anaesthesia workstations, spinal implants, X-ray machines, endoscopes, gastrology medical devices, biliary stents, ICU ventilators, and ECG machines. The park will also produce trauma management implants, coronary stents, hemodialysis kits, heart-lung bypass kits, cancer care equipment, video colposcopic machines, chemotherapy devices, radiology devices, nuclear imaging devices, and intraocular lenses.
In addition to the allotment of land, YEIDA is also constructing two flatted factories to help industrialists with a low budget, which is seen as an excellent initiative that will encourage small and medium-sized enterprises to set up businesses and contribute to the medical device industry in the state. YEIDA CEO Arun Vir Singh believes that this development will boost employment opportunities and contribute to the economic development of the state.
The medical device park near Noida is expected to play a critical role in developing the medical device industry in the region and attract investment from both domestic and foreign investors. The investment in this industry will have a positive impact on the economic growth of the state and the country as a whole.