MedTech industry leaders and diplomats exchange ideas to explore new business avenues at MTaI roundtable
Medical Technology Association of India (MTaI) hosted a high-level roundtable at JW Marriott, Aerocity, New Delhi with medtech industry captains and international diplomats from various embassies. With the theme “Capitalising opportunities for global medtech companies in India”, the roundtable saw the presence of Dr Stephan Hesselmann, Minister Councillor, Embassy of Germany; Eric Fajole, Trade Commissioner, Embassy of France; Prashanth Nair, Managing Director, High Commission of Canada and one representative from the British High Commission.
Pavan Choudary, Chairman, MTaI said, “India is a natural ally for the Western countries including Japan, and is emerging as one of the most attractive destinations for foreign players looking to invest in the healthcare space. The opportunities for global medtech players to collaborate lie in R&D, healthcare worker skilling, harnessing India as the China+1 destination in Asia in manufacturing, conducting clinical trials, and striking academic partnerships.”
Adding further to the roundtable discussion, Dr Hesselmann added,“Germany is one of India’s largest trading partners in the European Union, and India is one of Germany’s most important economic partners in Asia. More than 2000 German companies have remarkable investments in India with sectors ranging from automotive, engineering, chemicals, pharmaceuticals, and medtech. We see this roundtable as a great opportunity to understand and exchange ideas on the evolving healthcare landscape in India.India already has the tag of being the ‘Pharmaceutical Capital’ of the world and I believe with recent strides in the medtech sector, India has the potential to become a leading player in the global medtech industry.”
Speaking at the roundtable discussion Fajole said, “France and India have a long-standing history of business ties, which has been strengthened by growing economic and strategic cooperation in recent years. The two countries have established strong trade relations across several sectors, including aerospace, defense, energy, information technology, and healthcare. I am glad to be a part of this round-table discussion and would like to thank MTaI for organising this. The dialogue with medtech industry leaders at the roundtable was engaging and gave us a better view of the emerging opportunities in the Indian medtech space. I would like to add that French companies have been investing in India for several decades, and today, France is one of the top ten investors in India. Similarly, India has become an important market for French companies, with several major French multinationals having a significant presence in the country.”
Speaking at the roundtable, Sanjay Bhutani, Managing Director, Bausch & Lomb said, “India’s healthcare industry has been witnessing steady growth in recent years, which has led to an increase in demand for medical devices, equipment, and technology. With a rising population and increasing healthcare expenditure, the demand for innovative and advanced medical technologies is expected to surge further.With the increasing demand for medical devices and technology in India, global medtech companies have an opportunity to develop products and solutions that cater to the specific needs of the Indian market.”
In addition to the roundtable discussion, MTaI also had sessions with its member companieson various regulatory and policy matters during the day-long event. The event provided a platform for medtech industry captains and international diplomats to explore new avenues for collaboration and investment in India’s healthcare sector.