Boosting India's Med-Tech Exports: A Billion-Dollar Vision

India's medical technology industry aims to boost exports to USD 20 billion by 2030. The sector seeks more government incentives, expansion of the PLI scheme, and improved business conditions to support its growth and reduce dependency on imports.

India's medical technology industry is poised for significant growth, with an export target of USD 20 billion by 2030, according to the Confederation of Indian Industry (CII).

The sector, however, requires heightened government support, including the expansion of the Production Linked Incentive (PLI) scheme, to encompass more products and counterbalance the country's heavy reliance on imported medical equipment.

Industry experts argue for improved business conditions, urging the creation of a distinct regulatory framework separate from pharmaceuticals to maximize manufacturing potential.

(With inputs from agencies.)