Invest India Partners with APACMed to Boost MedTech Investment and Innovation

The MoU creates a framework for cooperation in several strategic areas, including investment facilitation, policy and regulatory engagement, research and innovation, technology transfer and digital health.

Invest India has signed a Memorandum of Understanding (MoU) with the Asia Pacific Medical Technology Association (APACMed) to attract greater investment, encourage innovation and accelerate the growth of India's medical technology sector.

The agreement was signed at Bharat Mandapam in New Delhi in the presence of Department of Pharmaceuticals Secretary Manoj Joshi and NITI Aayog Member Dr M. Srinivas. The partnership is expected to deepen collaboration between the Government of India and the global MedTech industry while supporting the country's ambition to become a leading hub for medical technology manufacturing and innovation.

Focus on investment, innovation and digital health

The MoU creates a framework for cooperation in several strategic areas, including investment facilitation, policy and regulatory engagement, research and innovation, technology transfer and digital health.

The collaboration will also strengthen engagement with APACMed's member companies, encouraging them to expand their presence and invest in India. Officials said the initiative will support domestic manufacturing, increase local value addition, improve the ease of doing business and integrate Indian companies more closely into global MedTech value chains.

Following the signing ceremony, senior government officials and industry leaders participated in a CEO Roundtable titled "MedTech as a Catalyst for Viksit Bharat @2047." Discussions focused on building resilient supply chains, increasing local sourcing, expanding research and development, promoting Global Capability Centres (GCCs), developing skilled talent and enhancing India's role in global MedTech markets.

Government outlines ambitious manufacturing roadmap

Speaking at the event, Manoj Joshi said India's medical devices industry has experienced strong growth in recent years, supported by rising healthcare demand, expanding healthcare infrastructure, the Production Linked Incentive (PLI) Scheme and other policy measures.

He said the government's next objective is to create a stronger and better-regulated MedTech ecosystem that promotes quality, patient safety and global competitiveness.

Joshi added that India plans to increase domestic value addition in high-end medical devices and imaging equipment from the current level of around 25% to 40–45% by building a robust component manufacturing ecosystem. He also said the government is exploring the next phase of the PLI Scheme while encouraging investments in domestic production of reagents, diagnostics and export-oriented components.

Collaboration to shape the future of healthcare

Dr M. Srinivas said a vibrant MedTech ecosystem is essential for the future of healthcare in India. He noted that combining clinical expertise with technological innovation, research and digital solutions can improve healthcare delivery and expand access to quality medical services.

He said continued collaboration among government, industry, academia and innovators will play a key role in advancing research, encouraging the adoption of emerging technologies and building a globally competitive MedTech sector that supports the vision of Viksit Bharat 2047.