On Friday, Telangana IT and industries minister KT Rama Rao (KTR) officially inaugurated the manufacturing, research, and development unit of Sahajanand Medical Technologies (SMT) global hub in Sangareddy.
In the first phase of the company’s ‘project Sanjeevani’, the unit was inaugurated in the Medical Devices Park (MDP) at Sultanpur at a cost of Rs 530 crores. According to the ministry of industries, the unit will create over 2000 jobs locally and over 300 scientists will be employed by its research and development division.
In this niche segment, SMT manufactures interventional and closure cardiac devices and seeks to reduce import dependency.
KTR said that Telangana had recognized medical devices as a high-potential industry. He said that they had found out about large players in the medical technology segment. SMT was one of them, and it has huge potential to grow and expand.
He added that they followed up without letting up and the efforts led to Asia’s biggest project. This is one of the greater successes in our scientific approach to getting investments to the state. Telangana is working alongside the industry for scaling up and systematic growth of the sector.
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According to him, reducing the state’s dependence on imports will greatly help reduce medical expenses. “The intention to promote Indian manufacturing is good, however, the support policies need to be aligned. In order for that to be successful, we must think about the difficulties of raising capital, duties, and other challenges entrepreneurs face in India,” he included.
Set up in 2017, the Medical Devices Park is known to be India’s largest medical park, spread over 302 acres. Since the park had been opened, more than 40 companies have reportedly lined up to set up manufacturing or research and development units.
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