Mandaviya Invites Japanese Medical Device Makers to Leverage Make in India Initiative

During his visit to Tokyo, Union Health Minister Mansukh Mandaviya urged Japanese medical device manufacturers to take advantage of the opportunities presented by the Indian government's "Make in India" initiative. Addressing representatives from Japanese firms, Mandaviya highlighted that India allows 100% foreign direct investment (FDI) under the automatic route for both greenfield and brownfield projects, aiming to attract global investors. He emphasized the crucial role of the medical devices sector in India's healthcare industry.

Mandaviya acknowledged the significant contribution of the medical devices sector in India, particularly during the COVID-19 pandemic. India played a crucial role in the domestic and global battle against the virus by ramping up production of medical devices and diagnostic kits. He invited Japanese firms to participate in the "Make in India," "Innovate in India," and "Discover in India" initiatives, emphasizing the potential for growth and collaboration.

Union Health Minister Mansukh Mandaviya has set an ambitious target for India's medical devices sector, aiming for a four-fold growth to reach $44 billion by 2030. Currently valued at $11 billion, this expansion reflects Mandaviya's confidence in India's potential to emerge as a prominent global player in medical device manufacturing and innovation. This vision aligns with the country's objectives during its G20 presidency.

To boost domestic manufacturing, the Indian government introduced the Production Linked Incentive Schemes for medical devices, which offer financial incentives worth $400 million. Mandaviya also announced the approval of four Medical Device Parks to reduce manufacturing costs and provide easy access to standardized testing and infrastructure facilities.

India recently approved its first National Medical Devices Policy, which outlines six strategies to strengthen the industry. Mandaviya highlighted the importance of this policy in fostering a conducive environment for medical device manufacturing and innovation. He also announced plans for a proposed National Policy on Research and Development (R&D) and Innovation in the Pharma-MedTech sector, aiming to facilitate strong collaborations and translational research.

The Indian government's initiatives and policies demonstrate its dedication to fostering the expansion of the medical devices sector and positioning India as a global center for manufacturing and innovation. Through its invitation to Japanese companies, the government seeks to capitalize on their expertise and technological advancements, aiming to propel the sector's growth and enhance India's healthcare ecosystem.

Mandaviya's address in Tokyo serves as a call to action for Japanese medical device manufacturers to explore the vast potential and opportunities that India offers. With its large market, supportive policies, and focus on domestic manufacturing and innovation, India presents a favorable landscape for investment and collaboration in the medical devices sector. As India continues its journey towards self-reliance in healthcare, partnerships with international players will play a vital role in driving the industry's growth and achieving its ambitious goals.