The Minister of State for the Ministry of Science and Technology, Dr Jitendra Singh, addressed the 13th CII Global MedTech Summit on the 'Sunrise Medical Sector Devices in India' virtually.
The Minister said that India's healthcare system had made advances during the brief 70 years since Independence, and this sector is recognised as the sunrise sector in India. He said that the government will collaborate with stakeholders to develop medical technology and be in line with the Prime Minister's Atma Nirbhar Bharat Mission.
Dependent on 85% of Imported Technology
According to the Press Information Bureau's release, Dr Jitendra Singh said, "We are among the world leaders in medicare, and sometimes new technologies are applied here even before these are rolled out in the West".
He further added that most medical technologies are not indigenous, and we are dependent on as much as 85 per cent of imported technologies. He said that one reason for the situation is that the healthcare sector has never been given priority in India, neither social nor cultural, owing to legacy issues besides economic constraints.
The Minister said that now the circumstances have changed under the leadership of Prime Minister Narendra Modi, who promotes scientific temper and has undertaken several initiatives in the last seven years like the Make In India and Ease of Doing Business. He said that COVID-19 has swerved as big kneejerk to indigenous technologies such as CSIR in manufacturing ventilators and ISRO in liquid oxygen. Instead of Ministry-wise approvals, he mentioned that the government should go for theme-based projects involving the private sector.
Medical Technology To Touch $50 billion By 2025
Dr Singh mentioned that the Indigenous medical technologies would help reduce dependence on imports. For this, the government, private sector, corporates, and scientists will have to come together and pool their resources. In 2020, the Indian Medical Technology sector was worth $11 billion, and a study by CII mentioned that it'd grow to $50 billion by 2025.