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India Aims to be Global Pharma & MedTech Powerhouse to Boost GDP

Union Minister Dr Jitendra Singh stated that India is steadily evolving into a robust pharma economy, positioning itself as a key global manufacturing hub for high-quality, affordable healthcare solutions. He highlighted a major sectoral shift from import-dependence to indigenous innovation, with homegrown products now matching global benchmarks. Key policy initiatives like the PRIP scheme, with an outlay of ₹5,000 crore, aim to transition India from low-cost manufacturing to high-value innovation in pharma and medtech. The government is also working through the National Medical Device Policy 2023 to significantly expand India's current 1.5% share of the global medical devices market.

Key Points: India Targets Global Pharma, MedTech Hub Status to Grow GDP

  • Evolving into robust pharma economy
  • Shift from import-dependence to indigenous innovation
  • Focus on "Made in India" and global quality
  • PRIP scheme with ₹5,000 crore for R&D
  • Targeting larger share of global medtech market
2 min read

India to become global pharma and medtech hub to boost GDP: Jitendra Singh

Union Minister Dr Jitendra Singh says India's pharma and medtech sector is transforming into a major GDP contributor through indigenous innovation and quality.

"Today, India is developing its own antibiotics, vaccines, and advanced therapies, marking a decisive shift towards self-reliance. - Dr Jitendra Singh"

New Delhi, March 21

Union Minister Dr Jitendra Singh on Saturday said that India is steadily evolving into a robust pharma economy, which could help as a significant contributor to the country's overall GDP.

During his address at a 'Healthcare Summit' here, the minister stated the nation's pharmaceutical, medtech and manufacturing ecosystem is positioning the country as a key global manufacturing hub -- particularly in high-quality, affordable healthcare solutions.

The minister said that the discussions revolved around two central themes -- "Made in India" and "Quality".

The sector is undergoing a major shift, with a strong focus on global quality benchmarks, indigenous innovation, and integration of research with industry.

Over the last 10 years, India has witnessed a transformation in healthcare, moving from a largely import-dependent system to one driven by indigenous capabilities, the minister said.

He also recalled that earlier, critical medical devices, implants and even advanced drugs were largely sourced from abroad, making treatment expensive and inaccessible for many.

"Today, India is developing its own antibiotics, vaccines, and advanced therapies, marking a decisive shift towards self-reliance," the minister highlighted.

Earlier, critical medical devices, implants and even advanced drugs were largely sourced from abroad, making treatment expensive and inaccessible, he noted, adding that India is developing its own antibiotics, vaccines and advanced therapies.

Regarding the COVID-19 pandemic, the minister said India not only developed indigenous vaccines but also supplied them globally, reinforcing its role as a reliable healthcare partner.

On quality standards, Singh said that "homegrown" products now match global benchmarks. "Indigenous medical devices such as stents, ventilators and diagnostic equipment are increasingly ensuring safety, efficacy and affordability."

The minister highlighted policy initiatives such as the Promotion of Research and Innovation in Pharma-MedTech (PRIP) scheme, with an outlay of Rs 5,000 crore, aimed at shifting India from low-cost manufacturing to high-value innovation.

According to the minister, India currently accounts for around 1.5 per cent of the global medical devices market.

He said that the government is working to significantly expand this share under the National Medical Device Policy 2023.

- IANS

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Reader Comments

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Sarah B
As someone working in the medtech sector, I can see the positive changes on the ground. The focus on R&D through schemes like PRIP is crucial. However, the real test will be in sustaining this innovation and ensuring these high-quality indigenous products reach every tier-2 and tier-3 city hospital, not just the metros.
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Vikram M
Atmanirbhar Bharat in action! Our role as the 'pharmacy of the world' during COVID was a matter of great pride. Becoming a global medtech hub is the next logical step. This will create so many skilled jobs and boost our GDP significantly. Hope the policies ensure a level playing field for domestic manufacturers.
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Priyanka N
While the intent is good, we must be cautious. "Matching global benchmarks" is one thing, but consistent quality control across thousands of manufacturing units is another. We need a robust, transparent regulatory system that the public can trust implicitly. One scandal can damage the entire 'Made in India' brand in healthcare.
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Rohit P
The focus on affordability is key. For a country like ours, high-quality but low-cost medical devices are not a luxury, they are a necessity. If we can master this, we won't just be a hub for manufacturing, but a model for the world on how to deliver equitable healthcare solutions.
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Karthik V
From 1.5% to... what? The National Medical Device Policy 2023 needs clear, ambitious targets. We have the talent and the market size. Now we need world-class infrastructure and easier access to funding for startups in this space. The ₹5000 crore PRIP scheme is

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