Bhubaneswar: In a significant move to position Odisha as a leading hub for medical technology (MedTech) manufacturing, FIDR released its national White Paper, “The Medical Device Industry in India’s New Era,” during the first-ever roundtable discussion held in Bhubaneswar.

This event signifies a major leap towards realizing the state’s industrial ambitions under the broader ‘Make in India/Odisha’ framework and aligns comprehensibly with Hon'ble Prime Minister's Purvodaya Strategy & “Act East Policy” and Hon’ble Chief Minister Shri Mohan Charan Majhi’s vision of Viksit Odisha by 2047.

FIDR, the Odisha headquartered global think tank, is not only advocating for Odisha’s strategic role in the national MedTech revolution but also reinforcing the state's industrial self-reliance, fostering innovation, and supporting domestic manufacturing. Mr Siddhant Vernekar, Director and Ms Kananbala Patnaik, Program Head anchored the RoundTable discussions with inputs from all the participants.

It is notable that the RoundTable held at the Combined Health Directorate was lauded as the first such Roundtable which had the participation of the Health Department, the Industry department, Med Tech majors including Transasia Bio Medicals Ltd, Economists, AIIMS, civil society organizations, academia, startups and media. 

The joint participation underscores the government’s resolve to bolster Odisha's healthcare sector and Medical Technology sector specifically. The discussion centered around building an ecosystem that reduces India's reliance on imported medical devices, stimulates domestic innovation, and positions Odisha as a key hub for MedTech manufacturing. With the central government’s vision for a Viksit Bharat and Odisha’s own industrial roadmap, the event was a confluence of public-private efforts to establish the state as a global player in MedTech. 

The report of the RoundTable with recommendations will be submitted to the Hon’ble CM, Shri Mohan Charan Majhi, Hon’ble Health Minister, Dr Mukesh Mahaling and the Secretaries of the departments to help prepare a blue print and move fast towards development of MedTech in the state.

Key Highlights from the FIDR Report
The report lays out a comprehensive roadmap for India’s growing MedTech market and the role of states like Odisha in achieving global leadership. Key points include:
India’s MedTech Market Potential: India ranks as the 4th largest medical device market in Asia and among the top 20 globally, poised for rapid growth driven by healthcare needs and the increasing burden of chronic diseases.
Opportunities for Domestic Production: Despite India importing 80% of its medical devices, the growing demand presents an opportunity for domestic manufacturers. The sector witnessed a 9% CAGR in exports between 2017-2022, and Odisha, with its low-cost manufacturing potential, can emerge as a hub for MedTech exports with the right policies.
Challenges & Solutions: The report highlights critical issues like high import dependency, limited R&D investment, and policies that constrain domestic manufacturers. It offers practical recommendations to address these gaps.
FIDR’s Strategic Recommendations to Catalyze the MedTech Sector:
Increase in R&D Investment: India needs $5 billion in MedTech R&D by 2050 to achieve global leadership. Restoring the 200% weighted deduction on R&D expenses would incentivize innovation.
GST Reduction on IVDs: Lowering GST on In Vitro Diagnostics (IVDs) will enhance affordability, spur market growth, and promote domestic production.
BIS Certification for IVDs: Mandating BIS certification would ensure quality and safety, strengthening consumer trust in Indian-made products.
Reserved Categories for Indian Manufacturers: Prioritizing Indian manufacturers in government tenders for biochemistry and hematology instruments would support local innovation and reduce import dependence.
Enhancing the PLI Scheme: The current Production Linked Incentive (PLI) scheme provides 5-7% incentives for MedTech devices but only 3% for IVDs. The report recommends raising incentives for IVDs to foster growth in this critical sector.
State-Level Compliance: Aligning state-level healthcare procurement, particularly in Odisha, with central Make in India guidelines is crucial to promoting domestic MedTech manufacturing.
Odisha’s MedTech Future: Aligned with Purvodaya and Viksit Odisha
Hon’ble Chief Minister Shri Mohan Charan Majhi has been a vocal advocate for Odisha’s industrial growth, emphasizing the transformative potential of sectors like MedTech in the state’s development trajectory. The Chief Minister’s vision of Viksit Odisha by 2047 calls for leveraging initiatives such as Make in Odisha, ensuring that Odisha contributes significantly to India’s broader Purvodaya agenda—fostering growth in the eastern states.

FIDR’s Enduring Commitment
As a leading think tank, FIDR remains steadfast in its mission to catalyze Odisha’s economic and social development. This roundtable represents a part of FIDR’s ongoing efforts to drive investment in the state’s key sectors. Through continuous engagement with stakeholders, FIDR is paving the way for Odisha to emerge as a critical player in India’s MedTech revolution, ensuring access to quality healthcare while boosting the local economy.
Looking Ahead
The roundtable and report are significant milestones in Odisha’s MedTech journey. By fostering innovation, incentivizing investments, and promoting domestic production, Odisha is set to become a vital cog in India’s quest for self-reliance in healthcare manufacturing. FIDR will continue to play a pivotal role in guiding this transformation, working closely with the state government and key stakeholders to realize the vision of a self-sufficient and prosperous Odisha by 2047.