New Delhi, March 15: India's medical device exports exceeded $4 billion in FY25, as the country aims to achieve a $30 billion medical devices market by 2030, leveraging its significant domestic market for growth, according to senior government officials.
India's medical devices sector has emerged as a critical component of the country's healthcare and manufacturing landscape.
With growing global demand for affordable and high-quality medical technologies, India is increasingly positioning itself as a reliable manufacturing and export hub. This was observed during a "Chintan Shivir" on "Strengthening India's Medical Devices Export Ecosystem," organized by the Department of Commerce in collaboration with the Department of Pharmaceuticals and the Export Promotion Council for Medical Devices (EPCMD) here.
The event brought together policymakers, regulators, industry leaders, exporters, and sector experts to discuss strategies for strengthening India's global competitiveness in the MedTech sector.
Aman Sharma, Joint Secretary, Department of Pharmaceuticals, highlighted the importance of focusing on the quality of medical devices manufacturing in the country and emphasized that both industry and regulators need to work together towards this objective.
Lav Aggarwal, Additional Secretary and Director General, Directorate General of Foreign Trade (DGFT), emphasized the need to grow faster by addressing structural issues.
He spoke about the role of trade policy measures and export promotion initiatives in expanding India's presence in global medical devices markets.
Commerce Secretary Rajesh Agarwal emphasized that India must move beyond its identity as the "Pharmacy of the World" to emerge as a global MedTech manufacturing hub.
Highlighting that India's medical device exports have exceeded $4 billion in FY25, Agarwal emphasized the need to significantly enhance India's global market share over the next decade, with a strong focus on high-value manufacturing, research and development investments, incremental innovation, and regulatory harmonization.
He also emphasized the broader goal of achieving a $30 billion medical devices market by 2030, while leveraging India's significant domestic market for growth.
Rajiv Nath, Forum Coordinator, the Association of Indian Medical Devices (AiMeD), emphasized the need for continued government–industry collaboration to address global regulatory challenges and scale domestic manufacturing.
