**Summary:**
Union Minister of Commerce and Industry, Shri Piyush Goyal, addressed the 17th CII Global MedTech Summit on August 29, 2025, urging the Indian MedTech industry to pursue ambitious growth targets and leverage the government's Research Development and Innovation (R&D) Scheme. The Minister emphasized the industry's vital role in achieving self-reliance in healthcare and its potential to become a global leader in providing affordable, high-quality medical devices.
Shri Goyal called for a strategic shift from import dependence to establishing India as a global manufacturing and innovation hub. He highlighted the importance of securing supply chains, expanding into export markets, and prioritizing R&D to develop cost-effective, high-quality medical devices for both domestic and international consumption.
The Minister noted that Free Trade Agreement (FTA) negotiations with the EU, Mauritius, Oman, UAE, Peru, and Chile are progressing, and discussions are underway with the US for a bilateral trade treaty. These agreements are expected to create new opportunities for market access, investment, scale, quality enhancement, and innovation.
The government's commitment to supporting the MedTech sector includes initiatives like the Production Linked Incentive (PLI) Scheme, which aims to boost domestic manufacturing of high-value medical devices and reduce import reliance. Efforts are also being made to streamline regulatory processes, fostering a business-friendly environment for MedTech companies by expediting approvals without compromising safety and quality standards. Increased government funding and support for R&D in the MedTech sector are intended to foster collaboration between industry, academia, and research institutions.
Minister Goyal urged the industry to invest in domestic manufacturing and R&D to produce next-generation medical devices. Skill development was also highlighted as critical to building a talented workforce. He also called upon the sector to focus energies on preventive Healthcare and patient welfare. Shri Goyal reiterated the core message of affordability and quality, stressing that MedTech innovations must be accessible to all segments of the population.
The 17th CII Global MedTech Summit, themed "Innovating for a Healthier Future – Advancing MedTech for Global Impact," convened policymakers, innovators, industry leaders, researchers, and clinicians to discuss India's aspirations and global expectations for the MedTech sector. A special plenary session focused on "Make In India, Make for the World," promoting Indian MedTech as synonymous with trust, innovation, and global excellence.
Release ID: 2161809. Contact: Abhishek Dayal / Shabbir Azad
Key Entities Referenced
Piyush Goyal: Union Minister of Commerce and Industry who addressed the 17th CII Global MedTech Summit.
CII Global MedTech Summit: A summit focused on the MedTech industry, serving as a platform to discuss India's aspirations and the world's expectations from the MedTech sector.
Research Development and Innovation Scheme: A government scheme aimed at promoting research, development, and innovation.
COVID19: The COVID-19 pandemic, during which the Indian MedTech industry demonstrated remarkable growth and resilience.
Free Trade Agreement (FTA): A trade agreement under negotiation with the EU, Mauritius, Oman, UAE, Peru, and Chile.
EU: European Union, with whom India is negotiating a Free Trade Agreement.
Production Linked Incentive (PLI) Scheme: A government initiative to boost domestic manufacturing of high-value medical devices and reduce reliance on imports.
United States: The United States, with whom India is in talks for a Bilateral trade treaty
Ministry of Commerce & Industry
Have bold goals for growth, use government’s
Research Development and Innovation Scheme:
Shri Piyush Goyal at Global MedTech Summit
We need to secure our supply chains and build for
export markets: Shri Goyal
Focus energies on preventive Healthcare and patient
welfare: Shri Goyal
Posted On: 29 AUG 2025 2:44PM by PIB Delhi
Union Minister of Commerce and Industry, Shri Piyush Goyal today addressed the 17th CII Global MedTech
Summit, where he urged the industry to have bold goals for growth and use the government’s Research
Development and Innovation Scheme to meet the aspirations of a vibrant India. The Minister commended the
Indian MedTech industry for its remarkable growth and resilience, particularly during the COVID-19
pandemic. He praised the sector's contribution to making India self-reliant in healthcare and urged it to
become a global leader in providing affordable, high-quality medical devices.
Minister Goyal urged the MedTech industry to shift from being a market for imported goods to becoming a
global manufacturing and innovation hub. He stated that we need to secure our supply chains and build for
export markets. He emphasized the need for a strong focus on research and development (R&D) to produce
affordable, high-quality medical devices for both domestic and international markets.
In his address, Minister Goyal noted that negotiations for a comprehensive Free Trade Agreement (FTA) with
the EU, Mauritius, Oman, UAE, Peru and Chile are in advanced stages. We are also talking to the US for a
Bilateral trade treaty. The Minister emphasized all these agreements will open up new agreements, new
opportunities, new markets, new investment and usher in scale, quality and innovation.
The Minister detailed the Government's commitment to supporting this vision through various initiatives like
the Production Linked Incentive (PLI) Scheme. Shri Goyal said the PLI scheme is a critical tool to boost
domestic manufacturing of high-value medical devices and reduce reliance on imports. The Minister stated
that the government is actively working to streamline the regulatory process to create a more business-friendly
environment for MedTech companies, ensuring faster approvals without compromising on safety and quality.
He pointed out towards the increased government funding and support for R&D in the MedTech sector to
encourage greater collaboration between industry, academia, and research institutions.
The Minister issued a direct call to action, urging the industry to invest heavily in domestic manufacturing and
R&D to produce next-generation medical devices in India. He also stressed the importance of skill
development to build a talented workforce that can support the sector's ambitious growth plans. He called
upon the sector to focus energies on preventive Healthcare and patient welfare.
Shri Goyal reiterated the core message of affordability and quality, stressing that MedTech innovations must
be accessible to all segments of the population. He reinforced the government's commitment to supporting the
MedTech sector's journey to provide high-quality, affordable healthcare solutions for India and the world.The 17th CII Global MedTech Summit brought together policymakers, innovators, industry captains,
researchers, and clinicians to discuss the theme "Innovating for a Healthier Future - Advancing MedTech for
Global Impact". The event served as a platform to discuss India's aspirations and the world's expectations
from the MedTech sector. This Special Plenary Session was focused on the theme "Make In India, Make for
the World" , highlighting the shared mission of making Indian MedTech synonymous with trust, innovation,
and global excellence.
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Abhishek Dayal/ Shabbir Azad
(Release ID: 2161809)