The Union Ministry of Commerce and Industry has outlined an ambitious vision to position India as a destination for medical tourism and healthcare services worldwide. Speaking at the Pharma Machtech and Labnext Expo 2026 in New Delhi, Commerce and Industry Minister Shri Piyush Goyal called on the pharmaceutical and medical device sectors to build on India’s existing strength as a global medicine supplier.
What the Government is Proposing
The Minister emphasised several policy directions to support healthcare sector growth. India’s network of free trade agreements now covers economies with a combined gross domestic product of around 60 trillion dollars, up from 10 trillion dollars before 2014. Ongoing negotiations could expand this to around 75 trillion dollars, potentially lowering import duties and opening markets for Indian healthcare exports and services.
The government has committed 1 lakh crore rupees towards research and development, innovation and funding. The Minister noted that 100 per cent foreign direct investment is permitted through the automatic route for the sector.
Key focus areas include:
- Strengthening startup incubation for medical technology, equipment and consumables
- Improving intellectual property protections through patent and copyright reforms
- Developing shared testing infrastructure where Indian medical equipment can be tested and certified against global standards
- Encouraging technology partnerships, joint ventures and knowledge transfer with international firms
- Reducing supply chain vulnerabilities through greater domestic production of critical medical equipment
The Minister highlighted that the healthcare sector could generate crores of jobs and thousands of business opportunities, particularly in medical technology startups. He also noted that goods and services tax amendments have been made to improve affordability and opportunities for the sector.
What This Means for You
These measures could make Indian-made medical devices and medicines more competitive globally and domestically. Greater investment in research and local manufacturing may eventually lower the cost of healthcare equipment and medicines available to Indian patients. For entrepreneurs and researchers, the expanded funding, intellectual property protections and incubation support create opportunities to start or scale medical technology businesses. The push towards self-reliance in medical equipment could reduce India’s dependence on imports, particularly important given lessons from supply shortages during COVID-19.