New Delhi, August 30
Amit Agrawal, Secretary, Department of Pharmaceuticals, highlighted India's transformation into an emerging hub for medical technology at the 17th CII Global MedTech Summit, themed "Innovating for a Healthier Future - Advancing MedTech for Global Impact: Make in India, Make for the World", in New Delhi.
Addressing medical technology stakeholders at its opening plenary, Agrawal stated that, with India being home to the world's largest population and a rapidly growing economy, domestic demand for affordable and innovative healthcare solutions is expected to grow sustainably at double-digit rates over the coming decades. He emphasised that the MedTech sector's core mission must remain centred on patient well-being and on developing high-quality, cost-effective medical devices for both domestic and global markets.
Agrawal noted that, post-COVID, India has successfully crossed a significant milestone in domestic manufacturing of advanced equipment, including MRI and CT scan machines, mammography units, ventilators, stents, heart valves, dialysis machines and a range of implant devices. He stated: "Products that seemed impossible for local production a decade ago are now manufactured in India, demonstrating the country's growing capabilities and innovation ecosystem."
Highlighting the government's support for the sector, the Secretary referred to the three upcoming dedicated medical device parks, expected to be operational in the coming year, as well as planned support for their continued infrastructure upgrade and the Production Linked Incentive (PLI) Scheme for Medical Devices, as major policy steps propelling the industry forward. Agrawal called for deep collaboration among innovators, entrepreneurs, and investors to accelerate the journey of new ideas from the laboratory to the market, thereby strengthening India's global competitiveness.
Expanding medical device park facilities, targeted policy initiatives like the PLI scheme and the Marginal Investment Scheme for backward integration, and the soon-to-be launched Rs.5,000 crore Promotion of Research and Innovation in Pharma MedTech Sector (PRIP) Scheme would result in enhancing Indian MedTech sector's cost - competitiveness and production efficiency, deepening of the domestic value chain and creation of a strong innovation ecosystem. The Secretary said that these will enable India to not only meet its own requirements but also offer affordable, innovative healthcare solutions to the global North and South alike.
"Countries worldwide now look to India not only as a market, but as a leader in healthcare innovation. We must believe in our own capabilities and intensify industry-government partnership to realise the full potential of the MedTech sector," said Agrawal. He stated that with ongoing economic reforms and international trade agreements, the sector will generate millions of new jobs while helping ensure accessible, high-quality healthcare for all.
He concluded by inviting all stakeholders to contribute to shaping India's MedTech vision and called for collaborative and concerted efforts across the value chain -- in partnership with all stakeholders -- to realise India's vision of Viksit Bharat 2047.
— ANI
Reader Comments
Finally some good vision from our government. The PLI scheme and medical device parks are exactly what we need to compete globally. But implementation is key - hope they actually deliver on these promises rather than just making announcements.
As someone working in healthcare, I've seen the quality of Indian-made medical devices improve dramatically. From ventilators during COVID to now MRI machines - we're becoming self-reliant. Make in India is actually working in medtech! 🎯
While this sounds promising, I hope they focus on rural healthcare accessibility too. Metro cities have good facilities, but villages still lack basic medical equipment. The innovation should reach everyone, not just urban centers.
The Rs.5000 crore research fund is a game-changer! Indian researchers and startups finally getting the support they deserve. This could put us on the global medtech map alongside US and Europe. Jai Hind! ðŸ™
Quality control is crucial though. We need to ensure that made-in-India medical devices meet international safety standards. Affordable shouldn't mean compromise on quality, especially when people's lives are at stake.
Impressive progress! India's medtech sector could become what pharmaceuticals already are -
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