India Emerging As Global Hub For Medical Technology: Pharma Secy

(MENAFN- KNN India)
New Delhi, Aug 30 (KNN) India is fast transforming into a global hub for medical technology, backed by innovation, policy support, and rising domestic demand, said Amit Agrawal, Secretary, Department of Pharmaceuticals, at the 17th CII Global MedTech Summit in New Delhi.

The summit is being held under the theme ‘Innovating for a Healthier Future – Advancing MedTech for Global Impact: Make in India, Make for the World’.

Addressing stakeholders at the opening plenary, Agrawal noted that India’s growing population and rapidly expanding economy are driving sustainable double-digit growth in the demand for affordable and innovative healthcare solutions.

He stressed that the sector must remain centered on patient well-being and on developing high-quality, cost-effective medical devices for domestic and global markets.

Highlighting post-COVID progress, he said India has crossed a crucial milestone in domestic manufacturing of advanced equipment such as MRI and CT scan machines, mammography units, ventilators, stents, heart valves, dialysis machines, and a range of implants.

“Products that seemed impossible for local production a decade ago are now manufactured in India, demonstrating the country’s growing capabilities and innovation ecosystem,” he remarked.

Agrawal outlined several policy measures supporting the sector’s growth, including three new dedicated medical device parks expected to be operational in the coming year, the Production Linked Incentive (PLI) Scheme for Medical Devices, and the upcoming Rs 5,000 crore Promotion of Research and Innovation in Pharma MedTech (PRIP) Scheme.

These, he said, would enhance cost competitiveness, deepen domestic value chains, and build a strong innovation ecosystem.

“Countries worldwide now look to India not only as a market, but as a leader in healthcare innovation,” he said, calling for closer industry–government collaboration to accelerate the journey of new ideas from laboratory to market.

With economic reforms and new trade agreements, he added, the MedTech sector is poised to generate millions of jobs while ensuring access to affordable, high-quality healthcare.

(KNN Bureau)

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