India’s rise to 4th largest economy to boost manufacturing and MedTech sectors: AiMeD

India's elevation to the world's fourth largest economy, with a GDP surpassing $4 trillion, marks a significant milestone that is expected to invigorate its manufacturing and medical technology sectors.

Prime Minister Narendra Modi reflected on this rapid ascent, noting that when he assumed office in 2014, India ranked 11th globally. "In just a little over a decade, it has come up to the fourth spot," Modi said, underscoring the nation's economic momentum.

The International Monetary Fund projects India will maintain this position in 2025, overtaking Japan with a GDP of $4.19 trillion. This economic leap is not only a matter of national pride but also a catalyst for industrial growth.

The Association of Indian Medical Device Industry (AiMeD) highlighted the positive impact on indigenous manufacturing and self-reliance within the MedTech sector. Rajiv Nath, AiMeD Forum Coordinator, emphasized the need to focus on improving per capita income, enhancing quality of life, and fostering inclusive growth.

"The achievement will boost indigenous manufacturing and self-reliance," Nath stated.

Modi also acknowledged the pressure to climb further, aiming for the third largest economy spot, saying, "The pressure of becoming the third (largest economy) is more than the happiness of becoming the fourth (largest economy). The country is not ready to wait."

This economic milestone signals a transformative phase for India, promising expanded opportunities in manufacturing and medical technology, while driving broader socio-economic development.

India has risen to become the world’s fourth largest economy, a milestone expected to boost its manufacturing and medical technology sectors, according to the Association of Indian Medical Device Industry (AiMeD). Prime Minister Narendra Modi highlighted the rapid growth from 11th to 4th largest economy in just over a decade.