Union Commerce and Industry Minister Piyush Goyal has urged India’s medtech startups to look beyond domestic markets and leverage the country’s expanding network of trade agreements, noting that India now enjoys market access to nearly 70 per cent of global GDP.

Speaking at the Pfizer INDovation Startup Showcase Programme in the national capital, the minister highlighted the growing global opportunities for Indian innovators in the medical technology space. He emphasised that affordable, scalable, and innovative healthcare solutions developed in India have the potential to address challenges not only in underserved and remote regions within the country, but also across international markets in Africa, Latin America, Central Asia, Southeast Asia, and even developed economies.

Goyal pointed out that India has concluded nine Free Trade Agreements over the past three years, covering 38 countries with strong per capita incomes. He added that most developed markets now maintain trade arrangements with India, creating a favourable ecosystem for Indian enterprises seeking global expansion.

The minister further noted that Indian products benefit from mostly zero-duty access in these partner markets, significantly improving their competitiveness. He encouraged startups to actively utilise these trade frameworks to scale operations, strengthen global presence, and position India as a key hub for affordable and high-quality medical technology solutions worldwide.