Union Commerce and Industry Minister Piyush Goyal has called on India’s medtech startups to expand beyond the domestic market and leverage the country’s expanding network of free trade agreements, which now provide access to nearly 70% of global GDP.
Addressing the Pfizer INDovation Startup Showcase Programme in New Delhi, the minister highlighted that India has concluded nine free trade agreements over the past three years, covering 38 countries.
These include major markets such as the European Union, the European Free Trade Association bloc, the United Kingdom, Australia, New Zealand and the United States, in addition to earlier agreements with Japan, South Korea and ASEAN nations.
According to the minister, most of these arrangements enable Indian products to enter partner markets at zero duty.
He encouraged medtech innovators to participate in global trade fairs and exhibitions and assured government support through Indian missions in over 190 countries. The ministry, he said, would facilitate delegations and help startups connect with international partners to accelerate global expansion.
He also underscored the importance of building affordable and scalable medical technologies that can serve remote regions in India while competing in global markets across Africa, Latin America, Central Asia, Southeast Asia and developed economies. He noted that several startups showcased at the event had already secured approvals from India’s drug regulator and were in advanced stages of obtaining clearances from international agencies.
To strengthen the innovation ecosystem, the minister announced the establishment of three new National Institutes of Pharmaceutical Education and Research (NIPERs) and the upgradation of seven existing institutes. A new National Institute of Design (NID) will also be set up in eastern India to support product design and quality enhancement for emerging enterprises.
In addition, the government is exploring the creation of a medtech manufacturing and innovation hub in North India, similar to the Andhra Pradesh MedTech Zone near Visakhapatnam, potentially within National Industrial Corridor Development Corporation projects.
Highlighting policy support measures, Goyal reiterated that startups are eligible for an 80% rebate on intellectual property-related fees. He added that a dedicated Startup India team within the ministry provides continuous assistance to entrepreneurs.
The event also marked the felicitation of winners under the Pfizer INDovation Program 2025, organised by the Department for Promotion of Industry and Internal Trade in collaboration with Pfizer, the Department of Pharmaceuticals and NITI Aayog. Fourteen healthtech startups were awarded grants of ₹60 lakh each, amounting to over ₹8 crore in total, along with 18 months of incubation, clinical validation, mentorship and deployment support.
The selected startups are developing solutions in priority healthcare areas including immunisation, non-communicable diseases, brain health, oncology, and maternal and child health, aligning with broader efforts to strengthen India’s healthcare access, affordability and global competitiveness.
