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Amit Agarwal in CII Summit ( PC - PIB_INDIA M/o Chemicals & Fertilizer / X (Formerly Known as Twitter)
Amit Agrawal, Secretary of the Department of Pharmaceuticals, said India is emerging as a hub for medical technology at the 17th CII Global MedTech Summit in New Delhi, an official release said.
The summit was held under the theme “Innovating for a Healthier Future – Advancing MedTech for Global Impact: Make in India, Make for the World".
Speaking at the opening plenary, Agrawal said India’s large population and growing economy will sustain double-digit demand growth for affordable and innovative healthcare solutions in the coming decades.
He stressed that the MedTech sector must keep its focus on patient well-being and on producing high-quality, cost-effective devices for both Indian and global markets.
Agrawal pointed out that post-COVID, India has made progress in domestic production of advanced equipment such as MRI and CT scan machines, mammography units, ventilators, stents, heart valves, dialysis machines and implant devices.
“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 said.
Agrawal urged innovators, entrepreneurs and investors to work together to move ideas from laboratory to market and boost India’s global competitiveness.
Expanding medical device park facilities, targeted policy initiatives like the PLI scheme and the Marginal Investment Scheme for backward integration, and the soon-to-be launched Rs 5,000 crore Promotion of Research and Innovation in Pharma MedTech Sector (PRIP) Scheme would result in enhancing Indian MedTech sector’s cost - competitiveness and production efficiency, deepening of the domestic value chain and creation of a strong innovation ecosystem, he said.
He added that these initiatives will allow India to meet its own needs while providing affordable healthcare solutions to both developed and developing nations.
“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 industry-government partnership to realize the full potential of the MedTech sector,” Agrawal said.
He added that economic reforms and trade agreements will help the sector create millions of jobs and expand access to high-quality healthcare.