New Delhi: Union Minister of Commerce and Industry Piyush Goyal urged MedTech Startups to expand beyond the domestic market, leverage India’s growing network of trade agreements covering nearly 70% of global GDP, and scale affordable healthcare innovations for both India and international markets.
Addressing the Pfizer INDovation Startup Showcase Programme in New Delhi, the Minister emphasized that affordable and scalable medical technology solutions can help reach the remotest parts of India while enabling medtech startups to access global markets across Africa, Latin America, Central Asia, Southeast Asia, and developed economies.
MedTech Startups Can Leverage India’s Expanding Trade Agreements
Piyush Goyal noted that nine Free Trade Agreements (FTAs) concluded in the last three years cover 38 countries with strong per capita incomes, adding that most developed markets now have trade arrangements with India.
These agreements include the 27-nation European Union, EFTA bloc, United Kingdom, Australia, New Zealand, and the United States of America, while earlier agreements include Japan, Korea, and ASEAN nations.
He said India now has market access to nearly 70% of global GDP, in most cases at zero duty for Indian products.
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The Minister encouraged medtech startups to participate in global fairs and exhibitions, assuring that the Commerce Ministry would support delegations and that India’s missions in over 190 countries are available to assist innovators.
He also encouraged collaboration with global companies present in over 100 countries.
MedTech Startups: Innovation, Scale, and Global Healthcare Impact
The Minister highlighted that affordable and scalable medtech products can reduce costs and improve quality through economies of scale.
Referring to startups present at the programme, he noted that several had secured CDSCO approvals, while some were close to receiving FDA approvals, enabling global expansion.
He stressed that innovation must address India’s day-to-day healthcare needs and ground-level imperatives, and underlined the importance of showcasing entrepreneurial success stories.
Stating that failure is not a stigma but a stepping stone to success, Shri Goyal cited the example of Abraham Lincoln, who faced repeated failures before becoming President of the United States.
MedTech Startups: Strengthening India’s Ecosystem
Shri Goyal referred to the Andhra Pradesh MedTech Zone (AMTZ) near Visakhapatnam and expressed interest in establishing a similar facility in North India, possibly in Rajasthan or Uttar Pradesh, or within NICDC industrial projects with dedicated land for medical devices and co-working spaces.
He also suggested setting up tinkering labs in nearby schools to build a holistic innovation ecosystem.
The Minister stated that over 200,000 startups are registered in India, reiterating the goal of making India a reliable and trusted global partner.
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MedTech Startups: Education, Design, and IP Support
Piyush Goyal announced that three new National Institutes of Pharmaceutical Education and Research (NIPERs) are being established alongside the upgradation of seven existing NIPERs.
A new National Institute of Design (NID) will be set up in East India, with states invited to submit proposals. He suggested NID could help startups improve product design, visual appeal, and quality, possibly through pro bono programmes.
The Minister also highlighted that startups receive an 80% discount on IP-related fees and assured 24×7 support from the Startup India team.
Pfizer INDovation Program 2025 Supports HealthTech Innovation
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, in collaboration with Pfizer, Department of Pharmaceuticals, and NITI Aayog, felicitated winners of the Pfizer INDovation Program 2025.
Under the initiative, 14 healthtech startups received grants of ₹60 lakh each (over ₹8 crore total) along with 18 months of incubation, clinical validation, mentorship, and deployment support.
The selected startups are developing solutions across immunization, non-communicable diseases, brain health, oncology, and maternal & child health, supporting India’s public health systems and improving healthcare access and affordability.
