India Unveils ₹500 Crore Initiative to Strengthen Domestic Medical Device Industry

The Indian government recently introduced a ₹500 crore scheme to strengthen the domestic medical devices industry, an initiative welcomed by many in the sector. This funding aims to boost local manufacturing, reduce reliance on imports, and support innovation. Industry leaders see this as a critical step toward improving healthcare accessibility across India by enabling companies to produce quality devices that meet local demands.

This scheme is set to benefit both established firms and startups, allowing them to expand facilities and access technology upgrades. By fostering local production, the government hopes India can become a leading player in the global medical devices market, promoting better healthcare and job growth domestically.