BR@Bureau
Union Minister of Commerce and Industry Piyush Goyal has called on India’s MedTech startups to look beyond the domestic market and scale their innovations globally, leveraging India’s expanding network of trade agreements that now provide access to nearly 70% of global GDP.
Addressing the Pfizer INDovation Startup Showcase Programme, Goyal said affordable and scalable medical technologies developed in India have the potential not only to serve the remotest parts of the country but also to address healthcare needs across Africa, Latin America, Central Asia, Southeast Asia, and developed economies.
Nine FTAs in Three Years; Market Access to 38 Countries
Highlighting India’s growing global trade footprint, the Minister said nine Free Trade Agreements (FTAs) concluded in the past three years cover 38 countries with strong per capita incomes. These include agreements with the 27-nation European Union bloc, the four-nation EFTA bloc, the UK, Australia, New Zealand, and the United States, while earlier agreements were signed with Japan, Korea, and ASEAN nations.
“With these agreements, India now has market access to nearly 70% of global GDP, in most cases at zero duty for Indian products,” Goyal stated, urging startups to actively participate in international trade fairs and exhibitions. He assured that the Commerce Ministry would facilitate delegations and that Indian missions in over 190 countries stand ready to support innovators abroad.
Strengthening the MedTech Ecosystem
Referring to the startups present at the event, the Minister noted that several had secured CDSCO approvals, while some were close to receiving US FDA approvals, positioning them for international expansion.
He highlighted the success of the Andhra Pradesh MedTech Zone (AMTZ) near Visakhapatnam and expressed interest in establishing a similar facility in North India—potentially in Rajasthan or Uttar Pradesh, or within NICDC industrial corridors—with dedicated land for medical devices and co-working spaces. He also proposed setting up tinkering labs in nearby schools to build a holistic innovation ecosystem.
Boost for Institutions and Startup Support
To further strengthen the innovation landscape, Shri Goyal announced the establishment of three new National Institutes of Pharmaceutical Education and Research (NIPERs) and the upgradation of seven existing NIPERs. A new National Institute of Design (NID) will also be set up in East India, with states invited to compete with proposals. He suggested that NID could support startups in enhancing product design, quality, and global appeal.
The Minister reiterated that startups are eligible for an 80% rebate on intellectual property (IP) filing fees, aimed at promoting genuine innovation while discouraging frivolous applications. He assured entrepreneurs of round-the-clock support through a dedicated Startup India team.
Failure Not a Stigma
Encouraging resilience among young innovators, Shri Goyal emphasized that failure should not be viewed as a stigma but as a stepping stone to success. Citing the example of Abraham Lincoln’s repeated setbacks before becoming US President, he urged entrepreneurs to persevere and continue innovating.
He also underscored the importance of showcasing startup success stories and called upon Startup India, the private sector, and the media to nurture and encourage emerging entrepreneurs.
₹8 Crore Support for 14 HealthTech Startups
During the event, the Department for Promotion of Industry and Internal Trade (DPIIT), in collaboration with Pfizer, the Department of Pharmaceuticals, and NITI Aayog, felicitated winners of the Pfizer INDovation Program 2025.
Under the initiative, 14 high-potential Indian healthtech startups were awarded grants of ₹60 lakh each—totalling over ₹8 crore—along with 18 months of structured incubation, clinical validation, mentorship, and real-world deployment support.
The selected startups are developing breakthrough solutions in critical healthcare areas including immunization, non-communicable diseases, brain health, oncology, and maternal and child health—key priorities for strengthening India’s public health systems and improving access and affordability.
Quoting Prime Minister Shri Narendra Modi’s Independence Day message, Goyal concluded: “To the youth, bring forward your innovative ideas. I stand with you. I am ready to be your partner in this journey.”
