Economy

India’s medical device industry is witnessing robust growth, with exports surpassing USD 4 billion in FY25 and ambitious plans to reach a USD 30 billion market by 2030. Leveraging a significant domestic market and rising global demand for affordable, high-quality medical technologies, India is positioning itself as a reliable manufacturing and export hub. Government initiatives, industry collaboration, and regulatory reforms are key drivers in strengthening the MedTech ecosystem.

India’s economic trajectory signals a rapid ascent toward becoming the world’s third-largest economy, driven by robust digital public infrastructure, highways, railways, renewable energy, and space initiatives. The Bharat Progress Report 2025-26 highlights over 100 milestones, including UPI transactions surpassing Rs 21 lakh crore and Aadhaar authentication exceeding one billion. However, the equity markets faced turbulence, with BSE Sensex and NSE Nifty 50 declining sharply due to rising crude oil prices, inflation concerns, and geopolitical tensions in West Asia.

India’s coal production from captive and commercial mines has surpassed the 200 million tonne milestone in the current financial year, reflecting steady growth in domestic energy output. Data released by the government indicates that captive and commercial coal blocks accounted for the vast majority of this production, contributing more than 194 million tonnes, while other mines added a smaller share. Coal dispatch also recorded notable growth, rising by over 7 percent year-on-year.

The Punjab government has unveiled plans to establish three large-scale exhibition centres aimed at strengthening the state’s industrial and commercial ecosystem. The proposed facilities will be developed in Ludhiana, New Chandigarh, and Amritsar, providing businesses with modern venues to showcase products, attract investors, and promote trade opportunities. The initiative was announced during discussions with industry leaders at the Progressive Punjab Investment Summit, where policymakers and entrepreneurs examined key economic challenges and opportunities in the state.

The Indian government has introduced a significant policy change aimed at optimizing the distribution of cooking fuel across households. Under a new amendment to existing regulations, households that have access to piped natural gas (PNG) for cooking will no longer be permitted to retain or obtain subsidized domestic LPG connections. The move is intended to streamline fuel distribution and reduce pressure on liquefied petroleum gas supplies during a period of global energy market disruptions.

India’s gems and jewellery export sector showed modest growth in February, reflecting the industry’s resilience amid global economic uncertainty. Exports increased by 3.86 percent year-on-year, reaching USD 2,680.79 million, equivalent to approximately Rs 24,340.05 crore. The growth was driven largely by diversification into emerging international markets as exporters adapted to shifting global demand.