Invest India, APACMed sign MoU to advance MedTech investment and manufacturing

Invest India, the National Investment Promotion and Facilitation Agency of the Government of India, has signed a Memorandum of Understanding (MoU) with the Asia Pacific Medical Technology Association (APACMed) to strengthen collaboration between the government and the global medical technology industry. Signed at Bharat Mandapam, New Delhi, the MoU aims to facilitate investment, innovation and growth in India’s medical technology sector.

The MoU was exchanged in the presence of Manoj Joshi, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilisers, and Dr M Srinivas, Member, NITI Aayog.

The partnership establishes a framework for collaboration in investment facilitation, regulatory and policy engagement, research and innovation, technology transfer and digital health. It also seeks to increase engagement with APACMed’s member companies, facilitate investments and expansion in India, strengthen domestic manufacturing, encourage local value addition, improve ease of doing business and integrate India further into global MedTech value chains.

Following the signing, a CEO Roundtable on ‘MedTech as a Catalyst for Viksit Bharat @2047’, chaired by Manoj Joshi, brought together 26 industry leaders from organisations including Boston Scientific, FUJIFILM India, Abbott, Johnson & Johnson, Medtronic, GE Healthcare, Bayer Pharmaceuticals and Stryker. Discussions focused on policy, regulatory and investment priorities, including local sourcing, supply chain resilience, research and development, Global Capability Centres (GCCs), talent and workforce development, and India’s participation in global MedTech markets.

Speaking at the event, Joshi said, “India’s medical devices sector has witnessed remarkable growth over the past several years, driven by increasing healthcare demand, expanding healthcare infrastructure, the Production Linked Incentive (PLI) Scheme and other supportive policy interventions. As we move forward, we need our medical devices sector to evolve into a more robust and well-regulated ecosystem that promotes quality, patient safety and global competitiveness.”

Outlining the roadmap for the sector, he added, “Our vision is to strengthen domestic value addition, particularly in high-end medical devices and imaging equipment, by developing a strong component manufacturing ecosystem and increasing domestic value addition from the current level of around 25 per cent to 40–45 per cent. The Government remains committed to supporting the sector through enabling policy measures and is actively exploring the next phase of the PLI Scheme. We also seek greater investments in domestic manufacturing of reagents and diagnostics, while encouraging the growth of a globally competitive component industry with strong export potential. Through sustained collaboration between Government and industry, we aim to build a resilient, innovation-driven and globally competitive MedTech ecosystem that contributes to the vision of Viksit Bharat @2047.”

Dr M Srinivas, Member, NITI Aayog, said, “Building a strong MedTech ecosystem is critical to the future of healthcare in India. The convergence of clinical expertise with technology, research and digital innovation can help strengthen healthcare delivery and expand access to high-quality care. Continued collaboration between Government, industry, academia and innovators will be essential to advance R&D, support the adoption of emerging technologies and build a resilient, globally competitive MedTech ecosystem.”

Nivruti Rai, Managing Director and CEO, Invest India, said, “India’s MedTech capability is recognised globally now. A device that works here works anywhere, because it has been tested against a diverse population. Invest India will work with companies, not around them.”

Arjun Sarker, Chief Executive Officer, APACMed, said, “The MoU between APACMed and Invest India represents a shared commitment to advancing India’s MedTech ecosystem through stronger industry and government collaboration.”