India to become global pharma and medtech hub to boost GDP: 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
Reader Comments
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.
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.
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.
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.
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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