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India Opens up Medical Device Sector to 100% FDI

India Opens up Medical Device Sector to 100% FDI

The Indian government’s decision to allow up to 100 per cent foreign direct investment (FDI) in the medical devices sector will attract U.S. firms to invest and manufacture in India, says Ajay Singha, executive director of the American Chamber of Commerce in India.

Earlier, the government had allowed 100 per cent FDI under the automatic route, both in greenfield and brownfield projects in the medical devices sector to encourage the manufacture of equipment such as diagnostic kits and other devices, reports Economic Times.

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