India Emerging as Global Pharma and MedTech Powerhouse: Jitendra Singh

India’s pharmaceutical and medtech sectors are rapidly transforming into a global force, creating new opportunities for the nation’s economy. Union Minister Dr. Jitendra Singh said today that the India emerging as global pharma and MedTech powerhouse and is poised to significantly contribute to India’s GDP.

Speaking at a ‘Healthcare Summit,’ he highlighted that India’s focus on high-quality, affordable healthcare solutions is positioning it as a key global manufacturing hub.

Dr. Singh emphasized that discussions at the summit centered on two major themes: “Made in India” and “Quality.” Over the past decade, India’s healthcare system has shifted from heavy import reliance to strong indigenous capabilities.

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“Today, India is developing its own antibiotics, vaccines, and advanced therapies, marking a decisive shift towards self-reliance,” he said. Previously, critical medical devices, implants, and advanced drugs were mostly imported, making healthcare expensive and less accessible.

The COVID-19 pandemic reinforced India’s growing global role. Dr. Singh noted that the country not only developed indigenous vaccines but also supplied them internationally, establishing India as a reliable healthcare partner. He added that homegrown medical devices like stents, ventilators, and diagnostic equipment now meet global safety and efficacy standards while remaining affordable.

Policy support is also driving the sector’s growth. The Promotion of Research and Innovation in Pharma-MedTech (PRIP) scheme, with a Rs 5,000 crore outlay, aims to shift India from low-cost manufacturing to high-value innovation. Currently, India accounts for about 1.5% of the global medical devices market, and initiatives under the National Medical Device Policy 2023 seek to expand this share significantly.

With innovation, quality, and indigenous manufacturing at its core, India is fast becoming a pharma and medtech powerhouse, ready to make a lasting impact on the global healthcare landscape.