India well-positioned to lead global MedTech market by 2047, says pharma secy Amit Agrawal

India is well on its way to become a global leader in medical technology, with a long-term vision to significantly expand its presence in the sector by 2047, Amit Agrawal, Secretary of the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, said today. 

Agrawal was talking at the APACMed Medical Technology Forum (MTF) 2025 Leadership Dialogue, where he delivered a keynote address. Talking about medical technology, Agrawal said that the country’s demographic advantage, sustained economic growth, and supportive policy environment together have given a strong foundation for India to scale its share of the global medical technology market. Factors such as expanding public healthcare programmes, rising disposable incomes, and wider access to medical services will further fuel this growth, he added.

“To complement innovation initiatives, three modern medical device parks are under construction and are expected to be operational by early 2027. These parks will offer shared infrastructure and specialized facilities for manufacturing critical raw materials and components such as medical-grade alloys, ceramics, polymers, glass, and packaging materials. This infrastructure development is aimed at reducing import reliance and enhancing ease of doing business for manufacturers,” the statement said.

He also underscored the government’s efforts to deepen collaboration between the National Institute of Pharmaceutical Education and Research (NIPER) and industry players. Initiatives such as the creation of an Academia–Industry Coordination Committee, industry-led curriculum development, chair professorships, and joint research projects are being rolled out to enhance skill development and promote innovation.

Highlighting the success of the Production Linked Incentive (PLI) Scheme for medical devices, Agrawal noted that it has already accelerated domestic manufacturing and attracted substantial global investment. The government’s broader aim, he said, is to integrate India across the entire global value chain—from design and innovation to manufacturing and exports.

“Emphasizing India’s commitment to global cooperation, Shri Agrawal invoked the Indian philosophy of “Vasudhaiva Kutumbakam” — the world is one family — aligned with the theme of India’s G20 Presidency, “One Earth, One Family, One Future.” He stressed that India seeks to advance global healthcare through collaborative partnerships with nations worldwide,” the statement said.