New Delhi | Prime Minister Narendra Modi on Thursday hailed the Union Cabinet's approval to the National Medical Devices Policy 2023, saying it will boost the health sector and further efforts to make India a leader in making as well as exporting medical devices.

He also said the cabinet decision approving establishment of 157 new nursing colleges is great news for India's aspiring nursing professionals.

"The co-location with existing medical colleges also signifies optimum use of resources," he said.

The Union Cabinet on Wednesday approved the establishment of 157 nursing colleges at a cost of Rs 1,570 crore in co-location with the medical colleges set up in the country since 2014.

In another decision, the Union Cabinet approved National Medical Devices Policy 2023 to promote domestic manufacturing and help the sunrise sector grow from the present USD 11 billion (one billion = 100 crore) to USD 50 billion in the next five years and reduce import dependence.

"This is an important decision taken by the Cabinet, which will boost the health sector and further our efforts to make India a leader in making as well as exporting medical devices," Modi said in a tweet.