India Aims to Lead Global Medical Device Manufacturing
Recently at the inauguration of India MedTech Expo 2023, Mansukh Mandaviya, Union Health Minister, Government of India emphasized that India is actively striving to establish itself as a dominant player in the global medical devices manufacturing sector. India welcomes foreign investment in medical device manufacturing, allowing 100 percent FDI through an automatic process.
The National Medical Device Policy 2023, the Export-Promotion Council for Medical Devices, and programs such as PLI and ‘Promotion of Medical Devices Parks’ encourage innovation and sector growth.
The Indian government's initiatives to promote domestic production, reduce dependency on imports, and create a favorable business environment were also discussed at the event. Further the minister underlined the country's commitment to ensuring accessibility and affordability of quality medical devices to the population.