Need to reduce meditech imports, says Pharma Secy

New Delhi, May 7

The government and industry must jointly work towards reducing import dependence in the meditech sector from 75 per cent to 50 per cent in the next five years, said Dr Arunish Chawla, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilisers.

Speaking at the launch of “The Meditech Stackathon 2024”, organised by the department in collaboration with Confederation of Indian Industry (CII), Chawla said India’s meditech industry held immense potential with projections estimating a growth rate of 28 per cent annually reaching a size of $50 billion by 2030.

“We have to be ‘aatmanirbhar’ in medical devices and reduce import dependence,” the secretary said.