The MedTech industry is more than a health care enabler—it is a socio-economic catalyst that drives accessibility, affordability, and innovation. In a world where quality prosthetic solutions remain inaccessible to millions, India is already demonstrating its capabilities by manufacturing indigenous, world-class prosthetics that reduce dependency on imports while ensuring affordable and advanced mobility solutions. This shift is not only empowering lives but also contributing to economic growth, employment generation, and technological advancement, positioning India as a global hub for assistive health care innovation.

The impact of this transformation extends beyond patients and caregivers. The MedTech sector is creating high-skill jobs, fostering research and development (R&D)-driven entrepreneurship, and reducing import dependency, thus strengthening India’s economic resilience. By making affordable health care solutions available at scale, India is building a robust industry that supports global demand for high-quality, cost-effective medical devices. This is Atmanirbhar Bharat in action—a self-reliant India that does not just meet domestic needs but emerges as a key player in global health care innovation.

India’s development journey is deeply rooted in Vasudhaiva Kutumbakam (the world is one family). By extending its healthcare innovations to global markets, India is reaffirming its commitment to inclusive progress and international collaboration. The nation’s MedTech ecosystem is now well-positioned to deliver Made in India, Made for the World prosthetic and assistive solutions to the global stage, empowering lives worldwide and reinforcing India’s position as a vishwaguru in health care innovation.

Recognising the potential of MedTech to shape the future of health care, the Government of India has introduced several measures to boost domestic manufacturing, reduce import dependence, and attract large-scale investments. These initiatives create an enabling environment for innovation, ensuring that India becomes a powerhouse in the global MedTech landscape.

One such initiative is the Production Linked Incentive (PLI) Scheme for Medical Devices, launched with a financial outlay of ₹3,420 crores. This scheme incentivises companies to manufacture medical devices in India, offering a 5% financial incentive on incremental sales for a period of five years. As of September 2024, cumulative sales under the scheme have reached ₹8,039.63 crore, including exports worth ₹3,844.01 crore—a testament to India’s growing stature in medical device manufacturing.

To further support the industry, the Scheme for Promotion of Medical Device Parks was introduced with a total financial outlay of ₹400 crores. This initiative aims to provide world-class infrastructure facilities for medical device manufacturing, reducing production costs and enhancing global competitiveness. Four states—Uttar Pradesh, Tamil Nadu, Madhya Pradesh, and Himachal Pradesh—have received final approvals for setting up these dedicated medical device parks.

Additionally, the Scheme for Strengthening the Medical Device Industry, with a financial outlay of ₹500 crores has been launched to provide support in critical areas such as component manufacturing, skill development, clinical studies, and industry promotion. The five sub-schemes under this initiative include Common Facilities for Medical Devices Clusters, Marginal Investment Scheme for Reducing Import Dependence, Capacity Building and Skill Development for Medical Devices, Medical Device Clinical Studies Support Scheme, and Medical Device Promotion Scheme.

Further strengthening the innovation ecosystem, the department of pharmaceuticals has established Centres of Excellence at seven National Institutes of Pharmaceutical Education and Research (NIPERs) under the Scheme for Promotion of Research and Innovation in the Pharma MedTech Sector. These centers focus on R&D, industry collaboration, skill development, and technological advancements, ensuring that India remains at the forefront of MedTech innovation.

The MedTech sector is not just about advancing health care—it is about positioning India as a global leader in health care solutions. With a strong policy framework, government-backed incentives, and a thriving innovation ecosystem, India is well on its way to becoming the world’s leading hub for affordable, high-quality, and cutting-edge medical devices.

The convergence of indigenous manufacturing, breakthrough research, and strategic global outreach is driving India’s emergence as a dominant force in MedTech. The country’s progress in assistive healthcare, diagnostics, prosthetics, and medical device manufacturing is shaping a future where healthcare is more accessible, equitable, and transformative. India’s MedTech industry is set to transform prosthetic care through innovation, quality, and accessibility. By advancing indigenous solutions, it can cut import dependence, lower costs, and provide millions with world-class mobility—reshaping lives and setting a global standard.

As India advances towards Viksit Bharat 2047, its commitment to self-reliance, global leadership, and inclusive health care solutions will redefine the MedTech industry, ensuring that millions across the world benefit from India’s innovation, expertise, and vision. This is more than a sectoral breakthrough—it is a defining moment in India’s health care and economic evolution, creating a healthier, stronger, and more prosperous future for all.

This article is authored by Anil Agrawal, former Member of Parliament, Rajya Sabha and Nagender Parashar, founder and CEO, Parashar Future Technologies.