Minister calls for strong focus on RnD to produce affordable, high-quality medical devices
New Delhi: Emphasising the need for greater self-reliance in healthcare, the Union Minister of Commerce & Industry Piyush Goyal has called for a strong focus on research and development (R&D) to enable the production of affordable, high-quality medical devices for both domestic use and global markets.
The push comes amid growing efforts to shift the MedTech industry from a market reliant on imports to a global manufacturing and innovation hub. The sector is being encouraged to secure our supply chains, and build for export markets.
Speaking at the 17th CII Global MedTech Summit 2025 in New Delhi, the Minister urged the industry to use the government’s Research, Development and Innovation Scheme to meet the aspirations of a vibrant India.
“For a Viksit Bharat by 2047, we all need to relook at our plans, ability to collaborate within the country and outside, become bigger and bolder, and aim for the sky. India cannot limit itself to modest goals, and the MedTech sector is a natural candidate for Atmanirbharata and self-reliance,” said Goyal.
As per IANS, the Minister commended the Indian MedTech industry for its remarkable growth and resilience, particularly during the Covid-19 pandemic. He praised the sector's contribution to making India self-reliant in healthcare and urged it to become a global leader in providing affordable, high-quality medical devices.
“India and its people rose together amidst the Covid-19 pandemic, with the world recognising India as the ‘Pharmacy of the World’. There is huge potential for the MedTech industry to grow at scale by relooking at its plans with the bolder challenges,” he added.
“Negotiations for a comprehensive Free Trade Agreement (FTA) with the EU, Mauritius, Oman, UAE, Peru, and Chile are in advanced stages. We are also talking to the US for a Bilateral trade treaty,” said Goyal, while stating that these agreements will “open up new agreements, new opportunities, new markets, new investment and usher in scale, quality and innovation”.
“At the government level, we are taking measures to make it easier to do business, promote industry to ensure they’re able to capture relevant opportunities, while ensuring availability of high-quality healthcare throughout the country at affordable prices,” the Minister said.
Goyal issued a direct call to action, urging the industry to invest heavily in domestic manufacturing and R&D to produce next-generation medical devices in India. He also stressed the importance of skill development to build a talented workforce that can support the sector's ambitious growth plans. He called upon the sector to focus energies on preventive Healthcare and patient welfare.
