Make in Maharashtra MedTech Policy 2024-2030

Pioneering Innovation in Medical Technology

Maharashtra, as a leader in industrial and technological advancements, is set to become a global hub for medical technology (MedTech) innovation. The Maharashtra MedTech Policy 2024 aims to leverage the state’s robust infrastructure, skilled talent pool, and strategic partnerships to drive the development of cutting-edge medical devices, digital health solutions, and innovative healthcare technologies.

Make in Maharashtra’s aim is to position the state as a leader in MedTech, focusing on improving healthcare delivery, patient outcomes, and ensuring access to affordable healthcare technologies. Through strategic collaborations with government bodies, global organizations, and private sector leaders, Maharashtra is fostering an ecosystem that supports MedTech innovation and investment.

Vision for 2030: Maharashtra as a Global MedTech Leader

By 2030, Make in Maharashtra envisions the state as India’s foremost destination for MedTech innovation and manufacturing, with the following goals:

Establishing Maharashtra as a global leader in medical technology, attracting ₹25,000 crores in investments in MedTech infrastructure, R&D, and digital health solutions.
Creating 20,000 direct and indirect jobs in the MedTech sector, promoting employment for healthcare professionals, engineers, and technologists.
Developing 10+ MedTech innovation hubs across the state, fostering research, product development, and healthcare solutions that cater to both domestic and global markets.
Supporting the development of affordable medical devices and digital health platforms, enhancing access to quality healthcare for all citizens.
Promoting public-private partnerships (PPP) and global collaborations to accelerate innovation in healthcare technology, particularly in underserved areas of Maharashtra.

Mission: Building Maharashtra’s MedTech Ecosystem

Make in Maharashtra is committed to establishing a world-class MedTech ecosystem that drives innovation, economic growth, and healthcare transformation. The Maharashtra MedTech Policy 2024 aims to:

Attract investments in medical technology by fostering partnerships with global MedTech leaders, start-ups, and research institutions.
Promote digital health solutions that enhance healthcare delivery, improve patient outcomes, and provide telemedicine and remote healthcare services to rural and underserved regions.
Support R&D in medical devices, diagnostics, and healthcare technologies by providing funding and infrastructure for the development of innovative products.
Align with national health technology policies, ensuring Maharashtra’s MedTech initiatives are in line with India’s broader healthcare and innovation goals.
Create employment opportunities in the MedTech sector by building a skilled workforce through training programs and partnerships with academic institutions.

Key Objectives: Maharashtra’s MedTech Roadmap

The Maharashtra MedTech Policy 2024 outlines several strategic objectives to position Maharashtra as a global leader in medical technology and healthcare innovation:

Promoting Investment in MedTech Clusters: Maharashtra will establish MedTech clusters and hubs that provide infrastructure for manufacturing, R&D, and digital health solutions. These hubs will encourage collaboration between researchers, engineers, and healthcare professionals to create innovative healthcare products.
Fostering Global Collaborations and Partnerships: The state will promote international partnerships with global MedTech companies, facilitating joint ventures, R&D collaborations, and technology transfers that accelerate the development of advanced medical technologies.
Enhancing Regulatory Support for MedTech Innovation: Maharashtra will work with national regulatory bodies to streamline approval processes for medical devices and healthcare technologies, ensuring faster market entry for MedTech products while maintaining safety standards.
Supporting Digital Health and Telemedicine: The policy emphasizes the importance of digital health platforms and telemedicine services, particularly for underserved regions, ensuring that affordable healthcare is accessible to every citizen in Maharashtra.
Promoting Public-Private Partnerships in Health Technology: Maharashtra will encourage public-private partnerships (PPP) to develop innovative medical technologies, working closely with national healthcare institutions to deploy state-of-the-art medical devices across the state.

Strategic Focus Areas: Accelerating MedTech Growth in Maharashtra

Developing MedTech Innovation Hubs

Maharashtra will establish 10+ MedTech innovation hubs in key cities such as Mumbai, Pune, and Nagpur, providing state-of-the-art infrastructure for R&D, product development, and manufacturing. These hubs will support the development of medical devices, diagnostics, and digital health solutions while encouraging collaborations between academia and industry.

Promoting Digital Health and Telemedicine

The policy highlights the need for digital health platforms that offer telemedicine, remote diagnostics, and digital health monitoring to improve healthcare access in rural and underserved areas. Maharashtra will support the development of cloud-based health solutions, ensuring that patients and healthcare providers can access real-time medical data and services.

Aligning with National Health Technology Policies

The MedTech Council will work closely with the Central Government of India to align Maharashtra’s MedTech initiatives with national health technology policies. The council will secure funding and regulatory support for MedTech innovation while ensuring that Maharashtra contributes to India’s broader healthcare goals, including the National Digital Health Mission (NDHM).

Fostering Global Collaborations in MedTech

Maharashtra will actively engage with global MedTech companies, facilitating joint ventures and collaborative research projects to bring cutting-edge medical technologies to the state. Through participation in international MedTech forums and conferences, Maharashtra will showcase its capabilities and attract foreign direct investment (FDI) in healthcare innovation.

Supporting Public-Private Partnerships for Healthcare Innovation

The MedTech Council will foster public-private partnerships (PPP) with national healthcare institutions, enabling the development of innovative medical devices, wearable health tech, and telehealth solutions that address the specific needs of Maharashtra’s population.

Incentives for MedTech Investments

The Maharashtra MedTech Policy 2024 provides a comprehensive range of incentives to promote investments and foster growth in the MedTech sector:

Incentive Type	Details
Capital Investment Subsidy	40% subsidy on capital investment in MedTech infrastructure, including R&D centers and manufacturing units, capped at ₹30 crores per unit.
Tax Incentives	100% reimbursement of SGST for 5 years for new MedTech units and tax holidays for MedTech start-ups for 3 years.
R&D Grants	50% subsidy on R&D expenditure, capped at ₹5 crores per annum, to encourage innovation in medical devices and healthcare solutions.
Skill Development Subsidy	50% reimbursement of the cost for MedTech companies investing in employee training and skill development programs.
Export Incentives	50% reimbursement on participation costs for international MedTech forums and exhibitions, up to ₹10 lakhs per event.
Digital Health Incentives	20% subsidy for companies developing digital health platforms and telemedicine services, encouraging innovation in remote healthcare delivery.

Ease of Doing Business: Streamlined Approvals and Regulatory Support

Maharashtra is committed to ensuring ease of doing business for MedTech investors and innovators. The state will implement a Single Window Clearance System for MedTech projects, providing online applications and fast-tracked regulatory approvals. Additionally, the policy will streamline product approvals through collaboration with national regulatory bodies, ensuring that medical devices and healthcare solutions reach the market swiftly and safely.

Conclusion: Maharashtra Leading India’s MedTech Revolution by 2030

The Maharashtra MedTech Policy 2024 is a forward-thinking initiative designed to position Maharashtra as a global leader in medical technology and healthcare innovation. By fostering investments, promoting sustainable healthcare solutions, and building a skilled workforce, Maharashtra will lead India’s transformation into a hub for MedTech innovation and high-quality healthcare.

Make in Maharashtra invites global MedTech companies, healthcare innovators, and investors to join this transformative journey and contribute to building a sustainable, innovative, and globally competitive MedTech ecosystem in Maharashtra.

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About Make in Maharashtra

The Make in Maharashtra is a Public Benefit Corporation (PBC) with a mission to establish Maharashtra as a key player in international economic collaboration, focusing on strategic partnerships with nations like USA, Europe, Australia, African Union, KSA, China, India, Qatar, Saudi Arabia, Türkiye, and the UAE across vital sectors such as energy, technology, agriculture, and finance. Our goal is to integrate lessons from successful global economic models, adopting best practices to ensure sustainable and inclusive growth. We aim to enhance economic prosperity and diversification, contribute to societal progress, and promote sustainable economic practices. By leveraging Maharashtra’s unique position, Make in Maharashtra strives to drive substantial economic growth, spur innovation, and solidify Maharashtra’s stature in the international economic arena, resonating with the government’s vision of a technologically advanced and interconnected economy.