New Delhi | March 15,2026 | SKY LINK TIMES
India Targets 30B Dollar Medical Devices Market:
India is aiming to build a $30 billion medical devices market by 2030, as the country strengthens its position as a global manufacturing and export hub for affordable healthcare technologies.
Government officials revealed that India’s medical device exports crossed $4 billion in FY25, highlighting the sector’s rapid growth and expanding global demand for Indian-made medical technologies.
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The announcement came 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 in New Delhi.
Growing Role of India’s MedTech Sector
India’s medical devices industry has increasingly become a key pillar of the country’s healthcare and manufacturing ecosystem. With rising global demand for cost-effective and reliable healthcare equipment, India is positioning itself as a trusted global supplier.
During the discussions, policymakers, regulators, industry leaders and exporters explored ways to improve export competitiveness, enhance manufacturing quality and strengthen international market access.
Officials noted that India’s large domestic market offers strong potential for scaling production and boosting exports in the coming years.
Focus on Quality and Collaboration
Aman Sharma, Joint Secretary at the Department of Pharmaceuticals, highlighted the importance of improving manufacturing quality standards across the sector.
He stressed that industry players and regulators must work together to ensure that Indian medical devices meet global standards and remain competitive in international markets.
Meanwhile, Lav Agarwal, Additional Secretary and Directorate General of Foreign Trade, said India needs to accelerate growth by addressing structural challenges in the industry.
He emphasised the role of trade policy measures and export promotion initiatives in helping Indian manufacturers expand their global footprint.
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Vision to Become a Global MedTech Hub
Commerce Secretary Rajesh Agarwal stated that India must move beyond its traditional reputation as the “Pharmacy of the World” and evolve into a global MedTech manufacturing hub.
He noted that achieving a $30 billion medical devices market by 2030 would require stronger investments in:
• High-value manufacturing
• Research and development
• Incremental innovation
Regulatory harmonisation with global standards
According to Agarwal, increasing India’s share in the global medical devices market will be essential to achieving this ambitious target.
Industry Calls for Continued Support
Industry representatives also highlighted the need for continued government-industry collaboration to address regulatory challenges and improve manufacturing capacity.
Rajiv Nath, Forum Coordinator at the Association of Indian Medical Device Industry (AiMeD), emphasised that coordinated efforts between policymakers and manufacturers will help scale domestic production and expand exports.
Experts believe that with the right policy support and innovation investments, India could emerge as a major global supplier of medical technology over the next decade.
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