Department of Commerce Convenes Chintan Shivir to Fortify India's Medical Device Export Framework
The Department of Commerce orchestrated a strategic Chintan Shivir on Saturday at Vanijya Bhawan in New Delhi, aimed at deliberating and reinforcing India's medical device export ecosystem. This high-level meeting, conducted in partnership with the Department of Pharmaceuticals and the Export Promotion Council for Medical Devices (EPCMD), concentrated on elevating global competitiveness and tackling structural impediments within the MedTech industry.
Ambitious Vision: Targeting $30 Billion Market by 2030
According to the Ministry of Commerce & Industry, the event revolved around the ambitious theme "Achieving 30@2030 - USD 30 Billion Market Size by 2030." The gathering attracted over 150 participants, including policymakers, industry leaders, and regulators, who collaborated to pinpoint priority sectors for manufacturing expansion and export enhancement.
Inaugurating the session, Secretary of the Department of Commerce, Rajesh Agarwal, articulated that India must transcend its renowned status as the 'Pharmacy of the World' to emerge as a global MedTech manufacturing hub. He highlighted that while medical device exports exceeded USD 4 billion in FY25, the nation requires a substantial increase in its global market share over the next decade. Agarwal underscored the critical importance of high-value manufacturing, research and development investments, incremental innovation, and regulatory harmonization to achieve the USD 30 billion target by 2030.
Collaborative Efforts and Quality Focus
The discussions emphasized a synergistic approach between governmental bodies and private enterprises. Joint Secretary of the Department of Pharmaceuticals, Aman Sharma, stressed the quality dimension of production, asserting that both industry stakeholders and regulators must unite to "focus on the quality of medical devices manufacturing in the country."
Additional Secretary and Director General of the Directorate General of Foreign Trade (DGFT), Lav Aggarwal, delivered a special address concerning the industry's growth trajectory. He accentuated the "need to grow faster by addressing structural issues" and highlighted the role of trade policy measures in expanding India's international footprint.
From the industry perspective, Forum Coordinator of AiMeD, Rajiv Nath, shared insights on scaling domestic production. He advocated for sustained government-industry collaboration to navigate global regulatory challenges and amplify domestic manufacturing capabilities.
Thematic Sessions and Actionable Pathways
The Chintan Shivir featured three comprehensive thematic sessions:
- Free Trade Agreements: Explored how international trade deals can unlock new avenues for MedTech exports.
- Infrastructure Development: Focused on bolstering manufacturing clusters and testing infrastructure to establish a global brand for Indian products.
- Regulatory Frameworks: Addressed the evolving regulatory landscape, aiming to streamline approval processes and enhance coordination between the industry and the Central Drugs Standard Control Organisation (CDSCO).
The Department of Commerce plans to utilize the insights garnered from these sessions to foster a more dynamic export ecosystem. The Chintan Shivir concluded with deliberations on actionable pathways to strengthen India's medical devices manufacturing ecosystem and boost export competitiveness. The Ministry affirmed that the learnings will aid in leveraging the advantages of India's medical devices industry and promote a vibrant export ecosystem through active engagement with the Department of Pharmaceuticals, CDSCO, and EPCMD.
