Invest India has signed a Memorandum of Understanding (MoU) with the Asia Pacific Medical Technology Association (APACMed) to promote investment, innovation, and manufacturing in India's medical technology (MedTech) sector.
Signed in the presence of senior government officials, the partnership aims to strengthen collaboration in areas such as investment facilitation, regulatory and policy engagement, research and innovation, technology transfer, and digital health. It also seeks to attract greater investments, enhance domestic manufacturing, increase local value addition, improve ease of doing business, and integrate India more deeply into global MedTech value chains.
Following the MoU signing, a CEO Roundtable on "MedTech as a Catalyst for Viksit Bharat @2047" brought together government and industry leaders to discuss key priorities, including local sourcing, supply chain resilience, research and development, Global Capability Centres (GCCs), talent development, and expanding India's global MedTech presence.
Speaking at the event, Department of Pharmaceuticals Secretary Manoj Joshi said the government aims to increase domestic value addition in medical devices from around 25% to 40–45%, particularly in high-end medical equipment, while exploring the next phase of the Production Linked Incentive (PLI) Scheme to further strengthen the sector.
NITI Aayog Member Dr. M. Srinivas highlighted the importance of collaboration between the government, industry, academia, and innovators to build a resilient, technology-driven, and globally competitive MedTech ecosystem that supports the vision of Viksit Bharat @2047.