India is preparing to roll out a ₹5,000 crore scheme aimed at strengthening innovation in the pharmaceutical and medical technology sectors, with equal emphasis on both industries.
Department of Pharmaceuticals Secretary Amit Agrawal confirmed that the Promotion of Research and Innovation in Pharma MedTech (PRIP) scheme, notified in August 2023, will be formally launched later this month. Of the total outlay, ₹4,250 crore has been earmarked for boosting investments in research and development across the two sectors.
The scheme is designed to support both early-stage and late-stage proposals, covering between 35 per cent and 50 per cent of project costs depending on the nature of the proposal. Agrawal emphasized that the initiative is part of the government’s broader push to create a stronger domestic innovation ecosystem, enabling India to produce critical raw materials and components locally, thereby reducing import reliance and improving the business case for manufacturing within the country.
The medical technology sector, which has posted double-digit growth for nearly 15 years, is expected to sustain this momentum in the coming decades, Agrawal noted. As part of infrastructure support, three medical device parks are under development and are expected to become operational by early 2027. These will be followed by specialized facilities for medical-grade materials in the next phase of the scheme.
Minister of State for Health Anupriya Patel underscored that medtech is increasingly recognized as a “sunrise sector” for India. Policy reforms and targeted support have already driven growth in domestic manufacturing and exports across categories. “Today India is transforming into a high-volume and high-value player in the global medtech market,” Patel said.
The PRIP scheme is expected to provide a structured framework to accelerate R&D-driven growth, encourage domestic capacity-building, and strengthen India’s positioning as a competitive global hub in pharmaceuticals and medical technology.
