India’s MedTech industry stands at a transformation stage. With the aspiration to be a ~$30 Bn sector by FY2030, reduce import dependency to less than 50%, and capture 10–12% share of the global market, the opportunity is massive. The inherent cost-competitiveness, entrepreneurial ecosystem and incoming investments provide a strong foundation.
This report, developed in association with CII and launched at the 17th CII Global MedTech Summit 2025, highlights that while there has been early momentum—domestic manufacturing has expanded, import reliance has reduced from ~80% in FY2022 to ~60% in FY2024, and MedTech parks, financial incentives, and FDI flows have strengthened the ecosystem—more needs to be done.
To unlock the next level of leadership, the report outlines 9 solution themes across government schemes, partnerships and collaborations, product R&D and innovation. These include fine-tuning PLI to promote MSME participation, streamlining imports aimed at exports and promoting manufacturing, supporting creation of a raw material ecosystem in India, attracting MNC manufacturing and R&D to India, unlocking the power of MedTech parks fully, aligning regulatory requirements to support quick global approvals, promoting public-private collaboration in innovation and manufacturing, promoting global awareness and acceptance of Indian innovation, and enabling training and upskilling at scale.
Together, these actions can help India progress towards the vision of ‘Viksit Bharat 2047’ in MedTech and establish India firmly as ‘India for the World’ in MedTech manufacturing.