The Indian government has officially released a comprehensive framework to promote joint ventures (JVs) in medical devices manufacturing, aimed at enhancing domestic production, reducing import dependence, and positioning India as a global hub for high-quality, affordable medical technology. Spearheaded by the Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers, and aligned with the goals of the National Medical Devices Policy, 2023, this framework encourages collaboration between Indian manufacturers and global technology providers, startups, R&D institutions, and healthcare conglomerates.

Under the framework, JVs are provided with a range of policy incentives, including financial subsidies, tax exemptions, and priority land allotment in newly established Medical Devices Parks across Himachal Pradesh, Tamil Nadu, Uttar Pradesh, and Madhya Pradesh. Additionally, projects focused on innovative, high-risk, and import-substituting devices are eligible for capital support through the Production-Linked Incentive (PLI) Scheme for Medical Devices, which offers up to 30% financial assistance on investment in eligible products such as diagnostic equipment, imaging systems, surgical tools, and wearable health technologies. The government also permits 100% foreign direct investment (FDI) under the automatic route in medical device manufacturing.

Special emphasis is placed on joint ventures that involve technology transfer, regulatory compliance with global standards, and clinical validation. JVs that incorporate AI-driven diagnostics, digital health integration, 3D printing, or robot-assisted technologies are prioritized for fast-track approvals and export promotion assistance. The framework encourages convergence with India’s digital health mission and skill development initiatives, ensuring that the growth of this sector supports self-reliance, employment generation, and global competitiveness. With this framework, the government aims to make India a trusted manufacturing and innovation destination for the global medical devices industry.