Tamil Nadu FICCI Chairman, BFSI News, ET BFSI
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He said the state has more than 6.89 lakh registered enterprises, accounting for 15% of the total MSMEs in the country and went on to add that the MSMEs in Tamil Nadu are caught in a peculiar situation.
“Apart from resulting in a severe shortage of working capital, the Covid-19 crisis had caused delays in payment, labour shortages, and disruptions in the supply chain,” he explained.
Velu said that the growth of healthcare manufacturing is very important for India’s economic development.He said the Indian healthcare sector is full of opportunities for medical devices and the diagnostic industry and Trivitron is one of the leading destinations that offer advanced healthcare devices, products, and facilities catering to a greater proportion of the population around the globe at the best cost without compromising the quality. The company focuses on “Make in India” which will accelerate the growth of the country’s manufacturing sector.
“Manufacturing will help in operational excellence, provide large-scale employment and this initiative will also enable a significant section of the population to get jobs and move out of poverty.
He said that through the Atmanirbhar Bharat Abhiyan, some favourable domestic manufacturing encouragement policies of the government, the domestic manufacturers stepped forward to make India self-reliant on medical devices.
“Not only Trivitron, as a medical device manufacturer but the whole industry and customers will get more relaxation and it will surely give a boost to manufacture indigenous medical devices. GST exemption is nothing but an incentive and reward for Indian manufacturers/Importers.” Velu said.
While speaking about the impact that Covid-19 has had on the lab testing industry at large, he said that the pandemic threw up a host of challenges.
“In the first phase of Covid-19, the only way to fight it is via boosting the testing, whereas in the second phase we got the vaccine to fight the Covid-19, but still the labs were on the front foot to diagnose the disease through RT-PCR and Antibody tests. So, lab testing has become very essential as we have experienced the need for more labs during the two waves. Trivitron has sold 55+ million Covid tests in the country,” he said.
He went on to add that the company is looking to increase its product lines by adding more products and technologies and is facilitating the development of custom-tailored products for developed, developing, and underdeveloped economies. Further, he said talks are on to cover the entire MENA region, which shall establish Trivitron as the only Health technology organization of Indian origin to cater to every country in the Gulf and Africa.
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