Which of the following statements is true regarding the MEDITECH STACKATHON 2024 launched in New Delhi?

Solution

·       Dr . Arunish Chawla from the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, launched the MEDITECH STACKATHON 2024 in New Delhi, aiming to catalyze transformative change in India's MedTech sector . ·       The STACKATHON, in collaboration with the Confederation of Indian Industry ( CII ) , focuses on a comprehensive value chain analysis of medical devices to address challenges, enhance domestic manufacturing, and reduce import dependence . ·       India's MedTech industry is projected to grow at 28 % annually , reaching USD 50 billion by 2030 , positioning India as the 4th largest market in Asia and among the top 20 globally . ·       Import challenges have been significant, with the top suppliers being the US, China, and Germany . The import coverage ratio for 2022 - 23 stands at 0 . 45 , with total imports amounting to USD 4101 Million . ·       Exports in consumables and disposables have surpassed imports, indicating a positive shift towards domestic capability . ·       The STACKATHON will involve eight focused groups including areas such as Cancer Therapy, Imaging, and Critical Care, aiming to improve understanding of segment - specific challenges and opportunities . ·       The initiative is part of a broader effort to foster innovation, boost investment in research, and achieve the goal of accessible and affordable healthcare through enhanced domestic production and reduced regulatory hurdles .