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AiMeD & DRISP Forge Alliance to Advance Medical Device Industry in India & Russia

Written by : Aishwarya Sarthe

November 2, 2023

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The recently signed Memorandum of Understanding (MoU) between AiMeD and DRISP aimed at fostering cooperation and understanding, promoting bilateral trade, investments, and the exchange of technology.

The Association of Indian Medical Device Industry (AiMeD) and the Centre for the Development of Russia Strategic Partnership (DRISP) have signed Memorandum of Understanding (MoU) to foster cooperation and understanding, promoting bilateral trade, investments, and the exchange of technology.  

The signed MoU also solidified their collaboration to bolster the medical device industry in India and Russia. 

This strategic collaboration is aligned with the broader objective set by the leaders of India and Russia, striving to achieve a significant milestone of $30 billion in mutual trade by 2025.

Rajiv Nath, the forum coordinator for AiMeD, underscored the significance of the MoU signed between DRISP and AiMeD. He said, "The MoU holds importance as the leaders of India and Russia have set a target of achieving a USD 30 billion trade milestone by 2025. This reflects their commitment to a dynamic economic partnership based on shared interests. Our two organizations will contribute in our way to align with this objective."

Nath further explained that the MoU, signed on October 4, aimed to "foster cooperation and understanding with the goal of promoting business relations between India and Russia. It seeks to facilitate bilateral trade, investments in both countries, and technology exchange. All of this is intended to support the growth of the medical device industry, which plays a crucial role in pursuing quality and affordable healthcare, a universal goal."

Commenting on the same, Prasun Prakash, public affairs director at DRISP, elucidated that the alliance aims to exchange vital economic and commercial information, including trade, investment opportunities, and technology trends. 

He said, "AiMeD will provide access to its web-based services, fostering collaboration, barring select priced sectors."

The collaboration is set to facilitate numerous initiatives, including supporting workshops, conferences, and trade fairs in both countries based on mutual interests. 

The essence of this partnership lies in the mutual exchange of expertise, information, and support between AiMeD and DRISP, propelling the medical device industry's growth in India and Russia.

Furthermore, recently AiMeD to the central government to extend the deadline for high-risk medical device manufacturing licenses. 

The organisation cited potential bottlenecks within the Central Drugs Standard Control Organisation (CDSCO), indicating possible disruptions in the supply chain for Indian-made medical devices.


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