India's government has initiated a ₹500 crore plan to boost domestic medical device manufacturing.

The Indian government has launched a ₹500 crore initiative called "Strengthening the Medical Device Industry" to enhance domestic manufacturing and reduce import reliance in the medical devices sector. The three-year scheme includes five sub-schemes focused on manufacturing key components, skill development, clinical studies, common infrastructure, and industry promotion. Experts anticipate this initiative will drive innovation and position India as a global leader in medical technology, with the market expected to grow from $14 billion to $30 billion by 2030.

November 08, 2024
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