“USIBC is pleased to support BCG's analysis as a path forward and has encouraged the adoption of many of the recommendations. R&D is one place where all parties are incentivized to work together and we believe a focus on innovation in India can help drive 'Make in India.''
We see great opportunities for 'win-win' collaboration via private-public partnerships between the Indian government, Indian researchers, Indian clinicians, and US-based MNCs. The time is now for public-private collaboration to fulfill India’s potential in this space,” said Nanavaty.Ĭolm Foley from Boston Consulting Group said that 'MedTech is an attractive industry for India – one in which India can leverage its competitive advantages to build a unique position the ecosystem. BCG’s recommendations build on India’s many strengths, including top-notch engineering talent and success in IT innovation, and suggest creating the necessary ecosystem to make India a hub for research and development and market-appropriate product innovation in India. “We were pleased to engage in productive discussions over the past few days on the roadmap outlined by BCG toward accelerating investment in India’s MedTech sector.
