India holds the promise of emerging as a global destination for cost-effective quality healthcare, Union Minister Dr. Jitendra Singh remarked while inaugurating an exhibition at the Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST) in Thiruvananthapuram on Friday (Oct 3).

The Minister noted that India’s medical technology sector is valued at around USD 12 billion in 2025 and is growing at nearly 20 percent annually, with projections to touch USD 50 billion by 2030.

He added that institutions like SCTIMST, with recognition from WHO and collaborations with national agencies such as ICMR, DBT, CSIR, DRDO and INSA, are positioned to play a critical role in this growth.

Dr. Singh hailed SCTIMST for producing high-quality medical devices at affordable prices and called for scaling up production and expanding awareness of these indigenous innovations.

He suggested that the institute showcase its devices in central locations such as Delhi, involving civil society and stakeholders, so that the benefits of its work are better known.

Dr. Jitendra Singh also underlined the importance of partnerships with industry, stating that affordability must remain central even as production expands. He added that the institute can contribute to India’s emergence as a global hub for cost-effective healthcare and medical tourism by 2047.

“By building on its achievements, Sree Chitra can serve both national health priorities and global demand, reinforcing India’s role as a trusted contributor to world healthcare,” he said.

The event was attended by Prof. Ashutosh Sharma, Former Secretary, DST; Dr. Abhay Karandikar, Secretary, DST; Prof. Kris Gopalakrishnan, President, SCTIMST; Dr. Sanjay Behari, Director, SCTIMST; and senior faculty, scientists, and industry partners.