India’s MedTech Sector Rising as Global Innovation Hub, Says Pharma Secretary

At the 17th CII Global MedTech Summit in New Delhi, themed “Innovating for a Healthier Future – Advancing MedTech for Global Impact: Make in India, Make for the World”, Shri Amit Agrawal, Secretary, Department of Pharmaceuticals, emphasized that India is on the cusp of becoming a global hub for medical technology innovation and manufacturing.

MedTech Demand to Surge with India’s Growth

In his keynote address, Shri Agrawal noted that with India now the world’s most populous country and one of the fastest-growing major economies, the demand for affordable, high-quality healthcare solutions is set to expand at double-digit growth rates for decades. This makes the MedTech sector not only a strategic necessity but also a high-growth industry with immense domestic and export potential.

He stressed that the sector’s mission must remain patient-centered, ensuring that devices are both cost-effective and globally competitive, while meeting the specific needs of India’s vast population.

Post-COVID Milestones in Domestic Manufacturing

Reflecting on India’s progress, Shri Agrawal highlighted how the COVID-19 pandemic catalyzed local innovation and manufacturing. Today, the country is successfully producing advanced medical equipment and devices once thought impossible for domestic manufacturing, including:

• MRI and CT scan machines

• Mammography units

• Ventilators

• Stents and heart valves

• Dialysis machines

• A wide range of implant devices

He remarked that a decade ago, many of these products were heavily import-dependent. Now, they are designed, developed, and manufactured in India, demonstrating the country’s expanding innovation ecosystem and self-reliance in critical healthcare technologies.

Policy Support Driving Growth

The government has introduced transformative policy measures to accelerate MedTech growth:

• Medical Device Parks: Three new dedicated parks are expected to be functional in the coming year, supported with continuous infrastructure upgrades.

• PLI Scheme for Medical Devices: Incentivizes domestic and global manufacturers to invest and expand production.

• Marginal Investment Scheme: Encourages backward integration and local component manufacturing.

• ₹5,000 crore PRIP Scheme (Promotion of Research and Innovation in Pharma MedTech Sector): Soon to be launched, this initiative will strengthen R&D, innovation, and domestic value chain deepening.

Together, these measures are expected to boost cost-competitiveness, efficiency, and the creation of millions of new jobs, while building a strong innovation-driven ecosystem.

India as a Global Partner in Healthcare Innovation

Shri Agrawal observed that India is increasingly seen not just as a healthcare market but as a trusted partner and leader in innovation by countries across the Global North and South. With ongoing economic reforms, foreign investment, and trade partnerships, India is positioned to play a pivotal role in shaping the future of global healthcare delivery.

He underscored the need for greater collaboration between innovators, entrepreneurs, investors, and policymakers, ensuring new ideas move swiftly from the laboratory to market. This, he said, will enhance India’s competitiveness and strengthen its role in providing affordable, innovative healthcare solutions worldwide.

Vision for Viksit Bharat 2047

Concluding his remarks, Shri Agrawal invited stakeholders from across the value chain to contribute actively to India’s MedTech vision, underlining the importance of collaborative industry-government partnerships.

“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 collaboration to realize the full potential of the MedTech sector,” he said.

He linked these efforts to India’s broader developmental roadmap, emphasizing that MedTech will be a crucial driver in achieving the vision of Viksit Bharat 2047 — a developed, self-reliant India with universal access to high-quality healthcare.