Healthcare: MedTech Innovation for Self-Reliance and Global Reach
India stands at the cusp of a healthcare transformation - one which is powered by indigenous innovation, collaboration and commercial scalability. For decades, our medical technology landscape was driven by dependency on foreign and finished goods. Through the help of strategic collaboration, robust R&D and visionary infrastructure, India is currently building its own medical technology ecosystem, which aligns with the nation’s vision of Atmanirbhar Bharat, a self-reliant India.
Beyond Manufacturing: Building the Ecosystem
When India began its MedTech journey, the focus was largely on manufacturing finished products. However, it soon becomes evident that manufacturing alone could not sustain the long-term growth. A deeper change was required for the same which strengthens the entire value chain. For instance, the ` 7,000 crore radiology industry depended on ` 700 crore worth of imported detectors. Recognising that no imaging manufacturer would set base without reliable access to such critical components, India starts focusing on component-level manufacturing. Leading global suppliers of detectors, generators, and imaging technology have also established factories in India, enabling domestic radiology facilities to flourish. This transformation from finished products to component ecosystems has also created a ripple effect, empowering local manufacturers, startups and researchers to innovate with independence and confidence.
From Science to Commerce
To enable financial viability, a venture fund for medical technology startups and growth stage firms is being enabled to help them scale, innovate and even reach IPO readiness.
Additionally, our partnership with World Trade Centre- India’s first trade centre within a Med Tech Park connects domestic manufacturers with 392 similar centres on a global basis - opening up international collaborations, exports and a distributor network. This unique step continues to position India as a neutral yet influential global trade player in the technology of healthcare.
Collaboration Over Competition
One of the biggest transformations in India’s MedTech sector is the recognition that collaboration is the new pattern of competitiveness. A single company may produce 10 medical devices, but hospital needs 600. Individually, no manufacturer can fulfil such comprehensive orders. However, when 20 -30 companies come together under a unified export strategy, India can deliver turnkey hospital solutions to global clients. Recently, 26 Indian Medtech companies collaborated to supply products to meet an international healthcare equipment order from Tajikistan. Such a model of aggregation not only promotes exports but also fosters a culture of independence and shared growth within the domestic ecosystem.
Made in India Hospitals: A Healthcare Revolution
Taking indigenous innovation a step further, India is now building 100 made-in-India hospitals across tier 2 and tier 3 cities. Each hospital that has around 100 beds will be equipped entirely with domestically manufactured devices, from basic hospital beds and surgical tools to complex MRI and dialysis machines. The model is mainly designed to be asset-light and entrepreneur-friendly; hospitals will operate on leased infrastructure and equipment financed by NBFCs and real estate partners. This approach also reduces upfront investment and allows healthcare entrepreneurs to focus on operations, quality and patient care as well. The first such facility, Bhanu Tai Gadkari Memorial Trust Diagnostic Centre in Nagpur, already stands as the proof of concept for indigenous revolution.
Driving Ethical and Technological Leadership
India Innovation drive is also expanding into advanced domains like robotic surgery, assistive technologies, and high-end diagnostics. With the upcoming centres dedicated to robotic surgery and open-source assistive platforms, the country is setting a great example in innovation with integrity, ensuring that technology growth remains transparent and inclusive as well.
India’s transformation in Medtech goes beyond manufacturing, and it represents a mindful shift from dependency to leadership. By making its own supply chains, funding systems and innovation clusters, India is not only fulfilling its domestic needs but also shaping the global healthcare market.
The author is the Managing Director of Andhra Pradesh Medical Technology Zone; views are personal
