India's medtech sector urged to build for global market

India's pharmaceutical secretary Manoj Joshi urged medical device makers to manufacture for the global market rather than just domestically, warning that low import duties leave them vulnerable to cheaper imports. Speaking at the 9th India Medical Device 2026 conference, he noted India's medical devices market is worth $16 billion versus a global market of $600 billion. He emphasized scaling up production, increasing local value addition from 20-25% to 40-45%, and fostering startup partnerships to boost competitiveness and reduce import dependence.