Scheme for Strengthening of Medical Device Industry (SMDI) - Marginal Investment Scheme for Reducing Import Dependence (MISRID)

The Scheme for Strengthening of Medical Device Industry (SMDI) is a critical initiative by the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India, aimed at bolstering India's self-reliance in the medical device sector. Within this broader scheme, the Marginal Investment Scheme for Reducing Import Dependence (MISRID) specifically addresses the urgent need to localize the production of vital components, raw materials, and accessories essential for manufacturing medical devices, including in-vitro diagnostics (IVDs). India's medical device industry has historically relied heavily on imports for critical inputs, which poses significant supply chain risks and increases overall production costs. This scheme seeks to mitigate these dependencies by providing financial incentives to encourage domestic companies to invest in manufacturing these crucial items.

The objective is to create a robust indigenous ecosystem for medical device manufacturing, thereby enhancing India's capacity to produce high-quality, affordable medical devices. By supporting local production of key components like sensors, embedded systems, optical filters, electrodes, and medical-grade materials, SMDI-MISRID aims to foster innovation, create employment opportunities, and establish India as a global hub for medical device manufacturing. This strategic push is aligned with the 'Make in India' vision and contributes significantly to public health by ensuring the availability of essential medical devices within the country, especially during times of global health crises.