New Delhi, April 23 -- India's exports of medical devices to Russia could potentially triple in the next five years through increased collaboration between the two countries, according to the Association of Indian Medical Device Industry (AiMeD).
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. However, AiMeD estimates 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 a...