Page 56 - Plastics News June 2026
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FEATURE NEWS
than 6,000 medical device products across di- plicitly emphasizing the medical devices sector.
verse categories
The NMDP outlines a clear vision to increase
India's Medtech domestic manufacturing has India’s share in the global medical device mar-
more than doubled from 20 % (2022) to 45% ket from the current ~1.5 per cent to more than
(2025). Domestic demand growing at 40% CAGR. 10 per cent within the next couple of decades.
Exports expected to reach $ 16-18 B by 2035. Underrated feature of this policy is a dedicat-
FTAs in various stages has potential to provide ed Export Promotion Council, which will push
access to large markets and global supply-chain Made-in-India products, providing opportunities
are unlocking new MNC committments to India. for MSMEs and startups to take their products
into the global market. Streamlining regulations
and focusing on human resource development
will guarantee a steady flow of new devices and
workforce to cater to our vast population.
The policy is an impressive culmination of the
GOI’s various initiatives, such as Make-in-India to
boost domestic manufacturing, Heal in India to
benefit patient cases, and Build in India to en-
courage innovation and access to cutting-edge
technology. There has never been a better time
to be a medical device company in India.
Rs 3500 cr PLI scheme has commissioned 24 The Union Health Ministry has recently launched
projects across 57 products . Number of Med- MedTech Mitra, a platform to accelerate the de-
Tech parks are under implementation. velopment of innovative products and aid their
commercialization.
The sector is witnessing momentum: mod-
ern factories, advanced R & D labs, expanding The MedTech Mitra platform, along with the re-
exports,and Indian enterprises steadily moving cent medical devices policy and the production-
up the value chain.. linked incentive scheme, will together provide a
boost to the medical devices sector and encour-
The Indian Government notified the New Medical age domestic manufacturing. It will also provide
Devices Policy 2023 (NMDP2023) in April 2023. end-to-end guidance to startups, making safe
This forward-looking policy outlines an exten- journey from idea to a smooth utility product .
sive range of measures to foster the growth and
advancement of India’s healthcare industry, ex-
58 PLASTICS NEWS June 2026
