Invest India, the National Investment Promotion and Facilitation Agency of the Government of India, today signed a Memorandum of Understanding (MoU) with the Asia Pacific Medical Technology Association (APACMed) at Bharat Mandapam, New Delhi, aimed at deepening collaboration between the government and the global MedTech industry to drive investment, innovation, and sustainable growth in India's medical technology sector.

The agreement was exchanged in the presence of Manoj Joshi, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilisers, and Dr. M Srinivas, Member, NITI Aayog.

The MoU establishes a framework for cooperation across several areas, including investment facilitation, regulatory and policy engagement, research and innovation, technology transfer, and digital health. 

Following the signing, a CEO roundtable themed "MedTech as a Catalyst for Viksit Bharat @2047" was chaired by Manoj Joshi. 

The session brought together 26 industry leaders from companies including Boston Scientific, FUJIFILM India, Abbott, Johnson & Johnson, Medtronic, GE Healthcare, Bayer Pharmaceuticals, and Stryker, who discussed strategic priorities for strengthening India's MedTech competitiveness — from local sourcing and supply chain resilience to R&D, Global Capability Centres (GCCs), workforce development, and India's role in global MedTech markets.

Manoj Joshi noted that India's medical devices sector has seen substantial growth in recent years on the back of rising healthcare demand, expanding infrastructure, and supportive policies such as the Production Linked Incentive (PLI) Scheme. He said the sector now needs to mature into a more robust, well-regulated ecosystem centered on quality, patient safety, and global competitiveness.

On the roadmap ahead, Joshi outlined plans to raise domestic value addition in high-end medical devices and imaging equipment from around 25% currently to 40–45%, by building a stronger component manufacturing base. 

Dr. M Srinivas of NITI Aayog emphasized that building a strong MedTech ecosystem is central to the future of Indian healthcare, pointing to the convergence of clinical expertise, technology, research, and digital innovation as key to expanding access to quality care. 

Nivruti Rai, Managing Director & CEO of Invest India, highlighted the global credibility of India's MedTech capabilities, noting that devices tested in India work reliably elsewhere given the country's diverse population. 

Arjun Sarker, Chief Executive Officer of APACMed, described the MoU as a shared commitment between APACMed and Invest India to strengthen India's MedTech ecosystem through closer industry-government collaboration.