New Delhi
India’s medtech leaders have welcomed the government’s recent launch of a Rs 500 crore scheme aimed at boosting the domestic medical device industry. Announced by Union Health Minister Jagat Prakash Nadda, this “scheme for strengthening the medical device industry” is intended to reduce import reliance, expand local manufacturing, and increase healthcare self-reliance, said medtech leaders on Saturday.
The 5-in-1 scheme covers key areas including manufacturing, skill development, clinical study support, common infrastructure, and industry promotion. Medtech leaders noted that the COVID-19 pandemic highlighted the country’s need for a strong medical devices sector to produce essential items like ventilators, PPE kits, and masks.
Rajiv Nath, Forum Coordinator of the Association of Indian Medical Device Industry (AiMeD), emphasized the scheme’s impact, saying, “During COVID, we realized the importance of medical devices for self-reliance.” Although the Rs 500 crore budget might appear modest, Nath called it a “groundbreaking strategy” that would likely stimulate substantial growth.
With India’s medical device market projected to grow from $14 billion to $30 billion by 2030, the scheme comes at a critical time. Pawan Chaudhary, Chairman of the Medical Technology Association of India (MTaI), commended the initiative as “evidence-based” and inclusive, saying it would benefit both startups and established companies alike.
Anish Bafna, Secretary of Nathealth, highlighted the scheme’s impact on reducing import dependency and fostering a stronger local supply chain. “This scheme will drive innovation, lower costs, and position India as a global leader in medical technology,” said Bafna.
