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flag India's MedTech sector targets rapid growth, aiming to triple its global market share with government support.

flag India's medical technology (MedTech) sector is forecast to grow three times faster than the global market, according to a report by CII and Boston Consulting Group. flag Currently valued at $16 billion, or 2% of the global $680 billion market, India aims to increase its share to 10-12% by boosting local manufacturing and reducing import dependency. flag The government supports this through financial incentives like the PLI scheme and tax benefits, although challenges remain, including shortages of skilled workers and under-utilization of MedTech parks. flag The report suggests nine strategic initiatives to address these issues and drive growth.

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