India's Growth to 4th Spot Signals MedTech Boost: AiMeD

Key Takeaways:

• India becomes the world’s fourth-largest economy, surpassing Japan with a $4 trillion GDP.
• Rajiv Nath highlights the opportunity this presents for indigenous manufacturing and innovation in medical devices.
• Focus must now shift to inclusive growth, higher per capita income, and grassroots development.

India has officially surpassed Japan to become the fourth-largest economy in the world, with a GDP of over USD 4 trillion, as per NITI Aayog CEO BVR Subrahmanyam. According to Rajiv Nath, Forum Coordinator of the Association of Indian Medical Device Industry (AiMeD), and Managing Director of Hindustan Syringes & Medical Devices Ltd (HMD), this marks India's progression from an emerging economy to a global economic power.

Also read: Building a Successful Pharma Brand in India: The Role of Scientific Communication

“Japan has historically been a symbol of industrial excellence and discipline, and to surpass such a formidable economy signals India's growing economic maturity, expanding influence, and increasing role in shaping global narratives. This isn’t just about the numbers — it’s about momentum, demographic strength, and the vast untapped potential of India’s young and dynamic population,” said Nath.

He further emphasized the importance of converting this growth into higher per capita income, equitable development and better quality of life for everyone who contributes and works hard in all strata of society. He indicated that there is a need to convert this economic momentum into deeply-rooted and stronger domestic manufacturing, R&D, and global competitiveness.

He concluded by calling upon industry, policy-makers and civil society to come together and effectuate a healthier and economically prosperous India together.