As relationships with China falter and China wants to make everything in-country, more Western device companies are looking to India not only for sales, but for sourcing, R&D, local manufacturing, etc. The Indian government has promoted medical device manufacturing via its National Medical Device Policy of 2023. More recently, it also established the Production Limited Incentive (PLI), which provides money to boost certain sectors. Siemens and Philips have both made large investments to build up their capabilities in India. Other major device companies like Medtronic, Boston Scientific, GE, and Stryker have also bolstered their businesses there. Local device manufacturing in India for export is growing quickly. The number of medical device parks has exploded in-country too. Internally, India still has cheap labor and a large STEM workforce.
Written by: Ames Gross – President and Founder, Pacific Bridge Medical (PBM)
Mr. Gross founded PBM in 1988 and has helped hundreds of medical companies with regulatory and business development issues in Asia. He is recognized nationally and internationally as a leader in the Asian medical markets. Mr. Gross has a BA degree, Phi Beta Kappa, from the University of Pennsylvania and an MBA from Columbia University.