What is the primary objective of the MISRID scheme?

The primary objective is to promote domestic production of key components, raw materials, and accessories used in medical device manufacturing, including in-vitro diagnostic devices, to reduce India's dependence on imports.

Who is eligible to apply for this scheme?

Eligible applicants include Central/State Government Organizations, Companies/LLPs registered in India, and Special Purpose Vehicles (SPVs) registered under the Companies Act or Societies Registration Act. This covers manufacturers of medical devices, IVDs, critical raw materials, and importers intending to shift to manufacturing.

What is the maximum subsidy amount I can receive?

The maximum capital subsidy is ₹10 Crore, disbursed on a reimbursement basis. The actual percentage (20%, 15%, or 10%) depends on the company's annual turnover, with smaller companies receiving a higher percentage of their investment as subsidy.

What kind of activities are eligible for this subsidy?

Eligible activities include the manufacturing of key components, raw materials, and accessories for medical devices and IVDs. This covers items such as sensors, embedded systems, optical filters, electrodes, antigens/antibodies, polymer tubing, metal tubing, and medical-grade packaging materials.

Is co-financing required for this scheme?

Yes, as the incentive is a capital subsidy on a reimbursement basis, it implies that the applicant must make the initial investment, and a percentage of that investment will be reimbursed, requiring co-financing from the applicant.

What is the project completion timeline?

Projects approved under the scheme are expected to be completed within two years from the date of final approval. A one-year extension may be granted under specific circumstances.

Scheme for Strengthening of Medical Device Industry (SMDI) - Marginal Investment Scheme for Reducing Import Dependence (MISRID) – Up to ₹10 Cr

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.

The selection process for the SMDI-MISRID scheme involves a multi-stage evaluation designed to identify projects with the highest potential to meet the scheme's objectives. Applications will first undergo a Project Management Agency (PMA) appraisal to assess their completeness and adherence to basic criteria. Following this, a Technical Committee will review the technical feasibility, innovation, and strategic importance of the proposed manufacturing projects. Finally, the Scheme Steering Committee will provide the ultimate approval, ensuring that selected projects align with the overarching goals of strengthening the medical device industry and reducing import dependence.

Capital subsidy up to ₹10 crore: One-time reimbursement-based capital expenditure support for medical device component manufacturing.
Reduced import dependence: Financial incentive to shift from importing to domestic manufacturing of critical components.
Technology upgrade support: Funding for new machinery, technology acquisition, and facility enhancement.
Regulatory handholding: Assistance with licencing, quality certifications, and compliance under Medical Devices Rules 2017.

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

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

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