Chennai, May 4 (IANS): The National Medical Devices Policy should benefit the ultimate consumer in terms of lower prices by capping the maximum retail prices (MRP) of the devices, a top official of the Association of Indian Medical Devices Industry (AiMeD) said on Thursday.

Talking to reporters, Forum Coordinator Rajiv Nath, while applauding Prime Minister Narendra Modi for the policy, also added that the consumer should need to benefit from this policy.

"So far there is no restriction or capping on the MRP prices of medical devices from the government," he said.

According to Nath, some hospitals are more concerned about their profits and less on the affordability needs of the patient and consume high MRP goods.

"We have been seeking a system whereby ethical manufacturers and importers can offer low-priced MRP products and still they are able to sell. We have been seeking MRP of imports to be monitored and compared with imports landed prices and steps taken to control when found irrationally excessive," he added.

According to him, the AiMeD is optimistic with the introduction of this policy, prices will hopefully be monitored, and these things will be controlled.

"This will help reduce the maximum retail price of any device and the consumer will be able to get goods at lower prices. The manufacturer will also benefit, as happened after capping the price of stents. Make in India has grown a lot in stents. Imports have reduced and patients have also benefited," Nath said.

"Medical Device Policy is a progressive step in propelling the country towards Atmanirbharta in the heavily import-dependent Medical Device Sector. This will also fuel manufacturing in India and will help realise the goal of medical device industry reaching $50 billion in the country by 2025," said Gaurav Aggarwal, Managing Director, Innvolution Imaging Technologies Pvt Ltd & Jt Coordinator EVG (Electronics Vertical Group), AiMeD.

Dr G.S.K. Velu, Chairman & Managing Director, Trivitron and Joint Coordinator IVD (Diagnostic Vertical Group) AiMed, said if the new policy is implemented along with preference for buying locally-made products, the medical devices sector will grow like pharmaceuticals industry in the next 10-15 years' time frame.

Nath hoped that the new policy will end the 70-80 per cent import dependency forced upon India and the ever-rising import bill which, last year, shot up by a steep 41 per cent to over Rs 63,000 crore and make quality healthcare accessible and affordable for common masses worldwide.