Government adopting holistic approach to make India global hub of Medical Devices: Health Minister

India’s 1^st ever MedTech Expo to be held from 17^th to 19^th August in Gandhinagar, Gujarat

Underlining the intent of the Central Government under the leadership of PM Modi, Dr Mansukh Mandaviya, Union Minister for Health & Family Welfare and Chemicals & Fertilizers, Government of India said that India is set to emerge as the global manufacturing hub for medical devices through a holistic development of healthcare, pharma and medical devices sectors. The market size of Indian medical devices sector is likely to reach $ 50 billion in coming years from current $ 11 billion. He further emphasised that in order to make healthcare affordable, the government is targeting to increase the share of generic medicines to 50-60 per cent from current level of 14 per cent alongside localisation of medical devices.

Addressing the Curtain Raiser of ‘India MedTech Expo 2023’, scheduled to be held in Gandhinagar, Gujarat from 17th to 19th August 2023, Dr Mandaviya said, “The medical device sector is considered as one of the sunrise sectors in the country. While earlier, we used to think in silos, Hon’ble Prime Minister Modi Ji’s holistic thinking has put India on the path of being the global hub for manufacturing medical devices and producing innovative medical technologies. We are also working towards making healthcare affordable and accessible for all by popularising and increasing share of generic medicines to 50-60 per cent.”

Outlining the government’s thinking, Bhagwanth Khuba, Minister of State for Chemicals & Fertilizers and New & Renewable Energy said, “The government is working on mission mode to fulfil Hon’ble PM Modi’s dream of Atmanirbhar Bharat and Indian medical devices sector will play a crucial role in it. The government is committed to supporting the growth of the medical devices sector in the country. India also has a lot of potential in the health tourism sector with immense opportunities and India MedTech Expo 2023 will further add value to this vision.”

Briefing on the ministry’s initiatives for the sector, S. Aparna, Secretary, Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India said, “The government is working to support the medical devices sector by initiating various reforms and policies including PLI scheme for domestic manufacturing and financial support for R&D and we are open to ideas and suggestions to help localised production.”

Representing industry’s voice, Shailesh K Pathak, Secretary General, FICCI said, “As an industry body with 96 years of legacy, we hope to see a bright future for the medical devices sector to grow many times in the coming years. The upcoming India MedTech Expo 2023 event will help accelerate this change.”

The Expo will have various pavilions, including Future Pavilion, R&D Pavilion, Start-up Pavilion, State Pavilion, Regulators Pavilion and Make in India Showcase. More than 400 exhibitors including 150 plus MSMEs, 150+ Domestic and International Manufacturers, Start-ups, Regulatory agencies, State Governments and Central Departments will participate in it.

A total of 231 foreign buyers from 50 countries primarily from 5 major regions Africa, ASEAN, CIS, Middle East and Oceania will participate in the international buyer-seller meet.