India’s med-tech ecosystem gaining strength on domestic manufacturing, lower import dependence: PM Modi
New Delhi, Aug 8 (IANS) Prime Minister Narendra Modi on Saturday highlighted India’s growing self-reliant medical technology ecosystem, saying domestic manufacturing, reduced import dependence and government support are helping the country emerge as a trusted global med-tech partner.
In a post on X, PM Modi shared an article written by Union Health and Family Welfare Minister Jagat Prakash Nadda on India’s progress in building a domestic medical devices ecosystem.
“Union Health Minister JP Nadda highlights India’s growing self-reliant med-tech ecosystem, driven by domestic manufacturing, reduced import dependence and schemes such as PLI and Medical Device Parks,” Modi said.
PM Modi further noted that India was steadily emerging as a trusted global med-tech partner focused on affordable and accessible healthcare.
In the article, Nadda said the government has been working to strengthen domestic manufacturing of medical devices through initiatives including the Production Linked Incentive (PLI) scheme, Medical Device Parks and the Promotion of Research and Innovation in Pharma-MedTech (PRIP) scheme.
He said more than 50 high-end medical devices have started being manufactured in India under the PLI scheme, while continued foreign investment reflects growing investor confidence in the sector.
Nadda said reducing dependence on imported medical devices could help strengthen supply chains and create scope for cost efficiencies, while improving access to advanced diagnostics, imaging systems, implants and intensive-care equipment.
He also highlighted opportunities in emerging areas such as artificial intelligence, software as a medical device, connected medical devices, robotics and remote diagnostics.
According to Nadda, India’s med-tech market is currently valued at $15-16 billion and is growing at nearly 12 per cent annually.
“The sector is the fourth-largest medical technology market in Asia and among the top 20 globally,” he said.
Nadda said the government’s focus is also on strengthening regulatory systems, testing infrastructure and clinical evidence generation to improve patient safety and align Indian products with international standards.
The minister said a stronger medical devices sector could contribute to manufacturing, employment, exports and technological development while making healthcare more affordable, accessible and resilient.
Earlier in the week, a report showed that the domestic medical device industry is expected to emerge as a global powerhouse with a projected market size of $250 billion by 2047.
“India’s medical device sector — which is currently valued at around $14 billion — is projected to reach $30-50 billion within this decade and likely to reach $250 billion by 2047,” it said.
–IANS
ag/