India Boosts Production to Achieve Self-reliance in Medical Devices

Amit Agrawal, Secretary, Department of Pharmaceuticals, pointed out the evolution of India into a global hub for medical technology at the 17th CII Global MedTech Summit in New Delhi.

He made the country’s rapid healthcare innovation journey very clear while sharing the theme “Innovating for a Healthier Future – Advancing MedTech for Global Impact, Make in India, Make for the World.” Agrawal remarked that India with its huge population and rising need for reasonably priced healthcare solutions is inspiring double-digit growth in the MedTech sector. 

He gave the example of India after the pandemic has gone an extraordinary mile to manufacture high-tech medical apparatus like MRI and CT scanners locally, besides other products such as mammography units, ventilators, dialysis machines, stents, heart valves, and implant devices which were earlier believed cannot be produced in India.

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In order to speed this process up, the government is making the medical device parks bigger, improving the facilities, and carrying out the targeted policy moves like the Production Linked Incentive (PLI) Scheme and the ₹5,000 crore Promotion of Research and Innovation in Pharma MedTech Sector (PRIP) Scheme anticipating. The objectives of these reforms are to support India’s value chain, to raise the efficiency at the lower costs and to enable the innovation.

Agrawal appealed for greater cooperation between the industry, the innovators, and the investors. He pointed to India not only as a country that can satisfy all the demands from inside but also one that can deliver healthcare solutions to the world in a cost-effective manner. Then, he claimed that MedTech sector will become a source of millions of jobs and will contribute immensely in the realization of India’s vision of Viksit Bharat 2047.