The initiative also plans to promote usage of medical devices manufactured in India.
"This MoU will give a big push to manufacturing and innovation in Indian medical device industry while promoting Indian healthcare sector as a whole," AIMED Forum Coordinator Rajiv Nath said.
"The initiative will also help reduce the country's huge import dependency in medical device sector while encouraging exports," he added.
As per the MoU, IMA and AIMED will establish joint mechanism to promote Indian medical device industry and also give users and consumers access to IMA preferred brands that are affordable.
