The Ministry of Chemicals and Fertilizers has reported significant growth in the export of medical implants and consumables, highlighting India’s advancing manufacturing capabilities and growing global competitiveness. However, the country continues to face challenges in achieving self-reliance in high-tech medical components, underscoring the need for enhanced R&D investments and local production.
Export Growth and Import Trends
Over the past three fiscal years, exports across all medical device segments have shown consistent growth, driven by initiatives like the ‘Make in India’ campaign and improved domestic production.
- Consumables and Disposables: From FY 2021-22 to FY 2023-24, imports fell by 27.03%, while exports grew by 27.14%, reflecting India’s strengthening role as a global supplier.
- Surgical Instruments: Imports rose by 21.30%, while exports grew modestly by 11.26%, signaling challenges in scaling high-precision production.
- Electronic Equipment: Imports saw a minor decline of 0.61%, with exports increasing by 26.57%, showcasing advancements in medical electronics manufacturing but persistent import reliance.
- Implants: Exports nearly doubled with a 97.03% growth, while imports rose by 38.53%, indicating strong global demand yet a shortfall in domestic supply to meet local needs.
- IVD Reagents: Imports dropped by 8.95%, and exports grew by 22.73%, showing India’s growing competitiveness despite reliance on foreign raw materials.
New Initiatives to Boost Domestic Manufacturing
In November 2024, the Ministry launched the “Strengthening of Medical Device Industry” scheme, allocating ₹500 crore to support critical areas such as manufacturing key components, skill development, clinical studies, and infrastructure development.
Commenting on the progress, experts note that while export growth reflects India’s rising prominence in global medical device markets, import dependency on high-tech equipment highlights the urgent need for targeted investments in research, innovation, and high-quality local manufacturing to achieve full self-reliance.
As reported by thehindubusinessline, this dual focus on bolstering exports and reducing imports positions India as a significant player in the global medical device sector, with the potential to lead innovation in the years to come.