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India Eyes Tripling Medical Device Exports To Russia In 5 Years!-30 April admin April 28, 2024

India Eyes Tripling Medical Device Exports To Russia In 5 Years!-30 April

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India Eyes Tripling Medical Device Exports
To Russia in 5 Years

India's exports of medical devices to Russia could potentially triple in the next five years through increased collaboration between the two countries.
This push comes after Indian manufacturers and Russian investors recently held an online meeting to explore opportunities in manufacturing and marketing medical equipment and devices.
Currently, India's medical device exports to Russia stand at around USD 75 million annually. Estimates are that this figure could rise to around USD 239 million by 2028 if both sides adopt a coordinated strategy and fast-track regulatory approvals.
While the U.S., Germany, China, and the Netherlands are the top importers of Indian medical devices currently, Russia does not feature in the top five. However, it accounts for 60 percent of India's medical device exports to the Commonwealth of Independent States (CIS) region.
Clearly, there is huge scope for partnerships between Indian and Russian entities in the medical device industry and entrepreneurs can capitalize on the opportunities.


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