Invest India, the National Investment Promotion and Facilitation Agency of the Government of India, signed a Memorandum of Understanding with the Asia Pacific Medical Technology Association (APACMed) on July 30, 2026, at Bharat Mandapam, New Delhi. The MoU aims to strengthen collaboration between the Government and the global MedTech industry to facilitate investment, innovation, and sustainable growth in India's medical technology sector.
The partnership provides a framework for collaboration in investment facilitation, regulatory and policy engagement, research and innovation, technology transfer, and digital health. It will promote greater engagement with APACMed's member companies and facilitate investments and expansion in India. The collaboration is expected to strengthen domestic manufacturing, encourage local value addition, enhance ease of doing business, and deepen India's integration with global MedTech value chains.
The MoU signing was followed by a CEO Roundtable on "MedTech as a Catalyst for Viksit Bharat @2047" chaired by Shri Manoj Joshi, Secretary of the Department of Pharmaceuticals. The roundtable brought together senior government officials, industry leaders, and key stakeholders to deliberate on strategic priorities for strengthening India's MedTech sector and enhancing its global competitiveness. Discussions focused on key policy, regulatory and investment priorities, including local sourcing and supply chain resilience, research and development, the role of Global Capability Centres (GCCs), talent and workforce development, and opportunities to enhance India's participation in global MedTech markets.
Shri Manoj Joshi stated that India's medical devices sector has witnessed remarkable growth driven by increasing healthcare demand, expanding healthcare infrastructure, the Production Linked Incentive (PLI) Scheme, and other supportive policy interventions. The government's 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% to 40-45%. The government remains committed to supporting the sector through enabling policy measures and is actively exploring the next phase of the PLI Scheme. The government also seeks greater investments in domestic manufacturing of reagents and diagnostics while encouraging the growth of a globally competitive component industry with strong export potential.
Dr. M Srinivas, Member of NITI Aayog, emphasized that building a strong MedTech ecosystem is critical to the future of healthcare in India, noting that the convergence of clinical expertise with technology, research, and digital innovation can help strengthen healthcare delivery and expand access to high-quality care. He stressed that 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.