India’s med-tech ecosystem strengthens through domestic manufacturing and lower import dependence: Prime Minister Mr. Narendra Modi
- IBEF
- August 10, 2026
India’s medical technology (medtech) ecosystem is gaining strength through increased domestic manufacturing, reduced import dependence and government support, helping the country emerge as a trusted global med-tech partner. Prime Minister Mr. Narendra Modi highlighted the progress of India’s self-reliant med-tech ecosystem, supported by initiatives such as the Production Linked Incentive (PLI) Scheme, Medical Device Parks and the Promotion of Research and Innovation in Pharma-MedTech (PRIP) Scheme. More than 50 high-end medical devices have begun manufacturing in India under the PLI Scheme, while continued foreign investment reflects growing investor confidence in the sector. The government is also focusing on strengthening regulatory systems, testing infrastructure and clinical evidence generation to improve patient safety and ensure Indian medical products meet international standards. These measures are aimed at strengthening domestic capabilities, improving supply-chain resilience and reducing dependence on imported medical devices.
India’s med-tech market is currently valued at Rs. 1.42-1.52 lakh crore (US$15–16 billion) and is expanding at nearly 12% annually, making the country the fourth-largest medical technology market in Asia and among the top 20 globally. The sector is witnessing emerging opportunities in artificial intelligence, software as a medical device, connected medical devices, robotics and remote diagnostics. The source also highlights that India's medical device sector is projected to reach Rs. 2.85-4.76 lakh crore (US$ 30-50 billion) within this decade and Rs. 23.81 lakh crore (US$ 250 billion) by 2047. A stronger domestic medical devices industry is expected to create opportunities across manufacturing, employment, exports and technological development while making healthcare more affordable, accessible and resilient. The expansion of indigenous capabilities, supported by government schemes and investment, is also expected to strengthen India’s position as a reliable global partner in medical technology and contribute to the development of an advanced healthcare ecosystem.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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