India’s‍‌‍‍‌‍‌‍‍‌ medical devices market is experiencing rapid expansion. Presently, the industry is valued at around $12 billion and is on track to reach $50 billion (Rs 4.46 lakh crore) by 2030. A significant move has been made by India over the last five years; domestic production now accounts for 30 percent of the country’s medical device requirements, which was only 10 percent earlier. In addition, exports have surpassed $4 billion and have been increased by 88 percent over the past six ‍‌‍‍‌‍‌‍‍‌years.

What’s Fueling This Growth?

To‍‌‍‍‌‍‌‍‍‌ revive local manufacturing, the government rolled out a series of programs. The PLI (Production Linked Incentive) Scheme (worth Rs 3,420 crore for Medical Devices) has been a game-changer, as it has drawn a massive ₹1,150 crore investment by 3

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