India’s medical technology (med-tech) sector is on track to achieve exports worth $20 billion by 2030, but greater government support and simplified regulations are essential to accelerate this growth, according to the Confederation of Indian Industry (CII). Himanshu Baid, Chairman of CII’s National Medical Technology Forum, highlighted the need to expand the Production Linked Incentive (PLI) scheme to cover more medical devices and provide export incentives to offset hidden costs for manufacturers.
Currently, India imports 60–70% of its medical equipment, with imports valued at $8 billion compared to $4 billion in exports. Baid emphasized the potential for reducing import dependency, leveraging India’s skilled workforce, competitive labor costs, and the global shift to a “China plus one” sourcing strategy.
With focused efforts, Baid estimated India’s med-tech exports could reach $15–20 billion by 2030, while imports could shrink to $3–4 billion. However, achieving this requires addressing overlapping regulations and creating a dedicated regulator for medical devices, separate from the current pharma-focused framework under the Drugs and Cosmetics Act.
He also raised concerns about the Quality Control Order (QCO) mandate, which requires raw material suppliers to register with the Bureau of Indian Standards (BIS). “This has created hurdles for domestic manufacturers, especially smaller suppliers, and contradicts the ‘Make in India’ push,” Baid noted, urging exemptions for the med-tech industry.
To enhance exports, Baid called for extending the PLI scheme to more products beyond the limited allocation to 28 companies, increasing the utilization of the Rs 3,400 crore budget. Additionally, he recommended raising export duty rebates under the RoDTEP scheme to 2–2.5% from the current 0.5–0.7%, citing the need to offset hidden manufacturing costs.
Improved export infrastructure is also critical, Baid said, stressing that delays in shipping containers from India must be addressed to compete with countries like China, where shipments are processed within days. Baid urged the government to act swiftly, stating, “India has a unique opportunity to position itself as a global med-tech manufacturing hub, but only if supported by robust policies and infrastructure enhancements.”
