I read an interesting article written by Suresh Vazirani, chairman and managing director of Transasia Bio-Medicals Ltd, where he outlines the pros and cons of medical device manufacturing in India. Transasia is the Indian subsidiary of a European device maker.
Vazirani says that designated manufacturing zones for medical devices, the ‘Free Diagnostics Service Initiative’ that seeks to provide a set of essential diagnostics at various levels of care, and the Ayushman Bharat health care system are all opportunities provided by the Government of India that will give an impetus to the medical technology sector.
Yet, there there are some challenges that medical device manufacturers in India face which need to be addressed, and Vazirani proposes:
-> The Goods and Services Tax be a uniform 5% for this sector
-> Incentives for R&D and innovative in-country product development
-> Preferential pricing for domestic manufacturers based on World Bank norms which allow 15-20% price preference
India’s medical device industry is growing at a CAGR of 15.8%. Per industry estimates, this market will grow to $50 billion by 2025.
Last updated: December 26th, 2025
