India Eyes USD 30 Billion Medtech Market by 2030

India, often dubbed as the 'Pharmacy of the World', is setting its sights on becoming a global medtech manufacturing powerhouse. The goal is to achieve a USD 30 billion medical devices market by 2030, leveraging its substantial domestic base for market scalability.

Commerce Secretary Rajesh Agrawal, addressing an industry session, underscored the crucial need to elevate India's global market share significantly in the coming decade. He emphasized the importance of focusing on high-value manufacturing, investing in research and development, and harmonizing regulations.

With medical device exports recently surpassing USD 4 billion in FY25, Directorate General of Foreign Trade Lav Aggarwal stressed addressing structural issues to accelerate growth. Trade policy adjustments and export promotions are pivotal for India to strengthen its footprint in the worldwide medical devices market.