Localising MedTech: Supporting India's vision of a Viksit Bharat

India's vision for Viksit Bharat 2027 is deeply rooted in one word—Atmanirbharta.

- Shuba Nagesh

When we speak about self-reliance in India's sunrise sector—the MedTech sector, which is among the top 20 globally—the conversation would be incomplete without addressing the import dependence, which still stands at 75% or more. This is where localisation comes into play.

Healthcare is also at an inflection point. The convergence of an enabling policy ecosystem and Make in India, steered by incentivisation of local manufacturing is positioning India as one of the leading players in the global markets, enabling deep localisation with reduced import dependence to overcome supply chain vulnerability. India's competitive edge in the MedTech sector is no longer restricted to affordable solutions but world-class manufacturing, and a rising global innovation hub centre for the world. With a projected CAGR of 15%, the industry is at the centre of India's vision to become one of the top five global MedTech hubs by 2047. It is important to understand what steers this prowess. The answer in one word—localisation.