Piyush Goyal Urges MedTech Startups to Leverage FTAs and Scale Globally

Ø Nine FTAs in Three Years Cover 38 Countries; India Now Has Market Access to 70% of Global GDP at Mostly Zero Duty: Mr. Goyal

Ø Three New NIPERs, Upgradation of Seven Existing Institutes and New NID in East India Announced to Support Startups: Mr. Goyal

Ø Startups to Receive 80% IP Fee Rebate; Ministry Assures 24x7 Support Through Dedicated Startup India Team: Mr. Goyal

Key Announcements

· Trade Access:

o India has concluded 9 Free Trade Agreements (FTAs) in 3 years, covering 38 countries.

o Market access now extends to 70% of global GDP, mostly at zero duty.

o Agreements include EU, EFTA, UK, Australia, New Zealand, USA, Japan, Korea, and ASEAN.

· Institutional Support:

o Establishment of 3 new NIPERs (National Institutes of Pharmaceutical Education & Research).

o Upgradation of 7 existing NIPERs.

o New National Institute of Design (NID) in East India to support product design for startups.

· Startup Incentives:

o 80% rebate on IP-related fees.

o 24x7 support via a dedicated Startup India team.

o Encouragement to participate in global fairs/exhibitions and collaborate with international companies.

Minister’s Vision

· Urged startups to go global and leverage FTAs for scaling affordable innovations.

· Highlighted Pfizer INDovation Showcase startups with CDSCO and FDA approvals, ready for international expansion.

· Stressed that innovation must address India’s ground-level needs while being globally competitive.

· Encouraged resilience, citing Abraham Lincoln’s perseverance as inspiration.

Ecosystem Development

· Plans for a MedTech Zone in North India, modeled on AMTZ (Visakhapatnam).

· Integration with NICDC industrial projects for medical device clusters.

· Proposal for tinkering labs in schools to nurture innovation culture.

· Over 200,000 registered startups in India, with many more unregistered.

Pfizer INDovation Program 2025

· Collaboration between DPIIT, Pfizer, Dept. of Pharmaceuticals, and NITI Aayog.

· 14 healthtech startups awarded ₹60 lakh each (₹8+ crore total).

· Support includes 18 months incubation, clinical validation, mentorship, and deployment.

· Focus areas: immunization, NCDs, brain health, oncology, maternal & child health.

Takeaway

India is positioning its MedTech startups as global players, leveraging trade pacts, institutional support, and innovation incentives. The government aims to build a globally competitive, innovation-driven healthcare ecosystem, with startups as key drivers of affordable, scalable solutions for both domestic and international markets.

[ABS News Service/13.02.2026]

Union Minister of Commerce and Industry Piyush Goyal on 12 February, 2026 urged medtech startups to look beyond the domestic market, leverage India’s expanding trade agreements covering nearly 70% of global GDP, and scale affordable innovations to serve both India and the world.

Addressing the Pfizer INDovation Startup Showcase Programme in New Delhi, the Minister emphasized that affordable, scalable medical technology can help reach the remotest parts of India and also access global markets across Africa, Latin America, Central Asia, Southeast Asia and developed economies.

He noted that nine Free Trade Agreements concluded in the last three years cover 38 countries with strong per capita incomes, and that most developed markets now have trade arrangements with India. Agreements include the 27-nation EU bloc, four-nation EFTA bloc, the UK, Australia and New Zealand, the United States of America, while Japan and Korea were concluded earlier, along with ASEAN nations. He said India now has market access to 70% of global GDP, in most cases at zero duty for Indian products.

Mr. Goyal said startups should not limit themselves to the domestic market and should participate in global fairs and exhibitions. He assured that the Commerce Ministry would support delegations and that India’s missions in over 190 countries are available to assist innovators. He also encouraged collaboration with global companies, present in over 100 countries, to access developed markets.

The Minister highlighted that affordable and scalable medtech products can reduce costs and improve quality through economies of scale. Referring to startups present at the programme, he noted that many had secured CDSCO approvals and some were on the verge of receiving FDA approvals, enabling them to expand internationally.

The Minister stressed that innovation must address India’s day-to-day needs and ground-level imperatives. He underlined the importance of showcasing success stories and urged Startup India, the private sector and the media to encourage entrepreneurs, including those who may not succeed initially.

Stating that failure is not a stigma but a stepping stone to success, Mr. Goyal cited the example of Abraham Lincoln, who faced repeated failures in education, business, law practice and elections before becoming President of the United States. He urged young innovators to persevere.

Mr. Goyal referred to the Andhra Pradesh MedTech Zone (AMTZ) near Visakhapatnam and expressed interest in establishing a similar facility in North India, possibly in Rajasthan or Uttar Pradesh, or within NICDC (National Industrial Corridor Development Corporation) industrial projects with dedicated land for medical devices and co-working spaces for startups. He also suggested setting up tinkering labs in nearby schools to create a holistic ecosystem.

The Minister stated that over 200,000 startups are registered in India, with many more unregistered, and reiterated the goal of making India a reliable and trusted global partner.

He announced that three more National Institutes of Pharmaceutical Education and Research (NIPERs) are being established alongside the upgradation of seven existing NIPERs. A new National Institute of Design (NID) will be set up in East India, with states competing to provide the best proposal. He suggested that NID could assist startups in improving product design, visual appeal and overall quality, possibly through pro bono programmes.

Mr. Goyal also highlighted that startups receive an 80% discount on IP-related fees to support genuine innovation while discouraging frivolous applications. He assured that the Ministry’s doors remain open 24x7, supported by a dedicated Startup India team.

Concluding his address, the Minister quoted the Prime Minister Mr. Narendra Modi’s Independence Day message: “To the youth, bring forward your innovative ideas. I stand with you. I am ready to be your partner in this journey.”

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, in collaboration with Pfizer, Department of Pharmaceuticals, and NITI Aayog, felicitated the winners of the Pfizer INDovation Program 2025, reinforcing DPIIT’s commitment to building a globally competitive, innovation-driven healthcare and MedTech ecosystem

Through this collaboration, 14 high-potential Indian healthtech startups have been awarded grants of ₹60 lakh each (over ₹8 crore in total) along with 18 months of structured incubation, clinical validation, mentorship, and real-world deployment support. The initiative reflects DPIIT’s ongoing efforts to enable strong public–private partnerships that help startups transition from innovation to impact, accelerating their journey from lab to market.

The selected startups are developing breakthrough solutions across priority healthcare areas including immunization, non-communicable diseases, brain health, oncology, and maternal & child health—sectors critical to strengthening India’s public health systems and improving healthcare access and affordability.