India’s Pharma and MedTech Sectors to Boost GDP Growth, Says Dr. Jitendra Singh
New Delhi, March 21, 2026: India is rapidly transforming into a robust pharmaceutical and medical technology (MedTech) powerhouse, with the potential to significantly boost economic growth and contribute meaningfully to the nation’s GDP, Union Minister Dr. Jitendra Singh said on Friday.
Speaking at a Healthcare Summit in New Delhi, the Minister highlighted that India’s healthcare ecosystem has undergone a profound shift over the past decade—from heavy import dependence to a self-reliant, innovation-driven model rooted in quality and global competitiveness.
From Import Dependence to Self-Reliance
Dr. Singh noted that India once relied heavily on imported medical devices, implants, and advanced pharmaceuticals, making healthcare costly and less accessible. Today, the country is developing its own antibiotics, vaccines, and advanced therapies, reflecting a decisive move toward indigenous capabilities.
He pointed to India’s response during the COVID-19 pandemic as a defining moment, when the country not only developed vaccines domestically but also supplied them globally. This, he said, reinforced India’s credibility as a reliable partner in global healthcare.
Focus on “Made in India” and Quality
The Minister emphasized that two central pillars—“Made in India” and “Quality”—are driving the transformation of the healthcare and MedTech sectors. Indian products are increasingly meeting international standards, supported by strengthened regulatory frameworks and streamlined approval systems.
Indigenously developed medical devices such as stents, ventilators, and diagnostic equipment are now ensuring affordability without compromising safety or efficacy.
Rise of Advanced Healthcare Technologies
India is also making strides in cutting-edge fields such as gene therapy and advanced disease treatments. Dr. Singh highlighted successful trials in conditions like haemophilia and ongoing innovations targeting diseases such as sickle cell anaemia.
Indian research institutions are contributing to globally recognized scientific work, with increasing representation in leading international medical journals—an indicator of the country’s growing research capabilities.
Policy Push for Innovation
The government has introduced several initiatives to accelerate this transformation. Among them is the Promotion of Research and Innovation in Pharma-MedTech (PRIP) scheme, with an allocation of ₹5,000 crore, aimed at shifting India from low-cost manufacturing to high-value innovation.
Other initiatives, including the Anusandhan National Research Foundation and the proposed Maha MedTech Mission, are designed to strengthen the research ecosystem by linking laboratories with clinical applications.
Support for the medical devices sector includes funding for infrastructure, testing facilities, and R&D clusters, helping reduce costs and improve global competitiveness.
Expanding Global Footprint
Currently holding around 1.5% of the global medical device market, India aims to significantly expand its share under the National Medical Device Policy 2023. The long-term goal is to position the country as a leading global manufacturing hub while reducing import dependence and boosting exports.
Collaboration Driving Growth
Dr. Singh underscored the importance of collaboration between government, academia, and industry. He noted that such partnerships have been institutionalized across sectors, including biotechnology, space, and healthcare, enabling interdisciplinary innovation.
A Promising Future
With sustained policy support, increasing private sector participation, and a strong focus on innovation, India is well on track to becoming a global hub for affordable and high-quality healthcare solutions.
The Minister concluded that this transformation not only strengthens India’s position in the global bioeconomy but also plays a crucial role in driving national economic growth and improving healthcare accessibility worldwide.