Healthcare sector in India is expected to reach $50 billion by 2025: Dr Jitendra Singh

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Union Minister of State (Independent Charge) Science & Technology Dr Jitendra Singh said that the Healthcare sector in India is expected to grow to reach a size of $50 billion by 2025.

IMPORTANT FACTS -

• He was addressing the 14th CII Global MedTech Summit titled “Seizing the Global Opportunity”.
• The 14th CII Global MedTech Summit was organised by CII National Medical Technology Forum at New Delhi on 7 September 2022.
• Dr Jitendra Singh said, the Telemedicine sector is expected to reach $5.5 billion by 2025.
• He said, the prime objective of the government is to reduce import dependence from 80% to below 30% in next 10 years and ensure self-reliance quotient of 80% in Med-Tech through Make in India.
• The Minister added that India aims to achieve 10-12% of the global market share of the medical devices sector to arrive at a $100-300 billion industry,

ADDITIONAL INFORMATION -

Confederation of Indian Industries (CII) :

• It is a business lobby group of top business houses in India.
• It was set up in 1895.
•  It works to create and sustain an environment conducive to the growth of industry in India, partnering industry and government alike through advisory and consultative processes.
• Headquarters : New Delhi
• President : Sanjiv Bajaj

Important Full Form for Exam :

• CII : Confederation of Indian Industries