Daijiworld Media Network - New Delhi
New Delhi, Mar 15: India’s medical device exports have surpassed $4 billion in FY25, as the country works towards building a $30 billion domestic medical devices market by 2030, according to senior government officials.
The sector has become an important part of India’s healthcare and manufacturing ecosystem. With global demand rising for affordable and high-quality medical technologies, the country is increasingly positioning itself as a reliable production and export hub.
The developments were discussed during a “Chintan Shivir” on strengthening India’s medical devices export ecosystem, organised by the Department of Commerce in collaboration with the Department of Pharmaceuticals and the Export Promotion Council for Medical Devices (EPCMD).
The event brought together policymakers, regulators, industry representatives and exporters to discuss strategies for enhancing India’s global competitiveness in the MedTech sector.
Aman Sharma, Joint Secretary at the Department of Pharmaceuticals, emphasised the importance of improving manufacturing quality in the medical devices sector and called for stronger collaboration between industry stakeholders and regulators.
Lav Aggarwal, Additional Secretary and Director General of the Directorate General of Foreign Trade (DGFT), highlighted the need to accelerate growth by addressing structural challenges and strengthening trade policy support and export promotion initiatives.
Commerce Secretary Rajesh Agarwal said India should move beyond its reputation as the “Pharmacy of the World” and aim to establish itself as a global manufacturing hub in the MedTech sector.
He noted that while exports have crossed $4 billion in FY25, India needs to significantly expand its global market share over the coming decade through higher investments in research and development, high-value manufacturing, incremental innovation and regulatory harmonisation.
Agarwal also stressed the broader goal of developing a $30 billion medical devices market by 2030 by leveraging India’s large domestic demand to scale up production.
Rajiv Nath, Forum Coordinator of the Association of Indian Medical Devices Industry (AiMeD), highlighted the importance of sustained cooperation between the government and industry to overcome global regulatory barriers and expand domestic manufacturing capacity.