India and Israel are gearing up to strengthen their collaboration in the medtech sector, combining Israel’s mature and innovation-rich startup ecosystem with India’s manufacturing capabilities and scale. During his official trip to Tel Aviv, Piyush Goyal highlighted that technology and innovation will be core pillars of an upcoming bilateral trade agreement, with a special emphasis on medical-devices and medtech solutions. 

Goyal noted that Israel has “one startup for every 1,000 people” and said that the country’s ability to convert adversity into opportunity  particularly in sectors such as health, climate tech and agriculture  offers significant learning for India’s innovation ambitions. He stressed that India can provide scale, competitive pricing and a large deployment environment, making joint medtech ventures attractive. 

Officials from both countries are now exploring mechanisms to formalize this collaboration: a “startup bridge”, joint R&D programs, co-development of advanced medical devices, and perhaps shared manufacturing/market access models. The idea is that Israeli deep-tech innovations could be developed in partnership with Indian industrial capacity and then scaled across global markets, including India’s large healthcare ecosystem.

The timing is significant: India is keen to strengthen its domestic medtech manufacturing and reduce import dependence, while Israel is seeking new markets and partners to commercialize its innovations. This collaboration could accelerate India’s goal of becoming a global medtech innovation hub and give Israeli startups a gateway to one of the fastest-growing healthcare markets in the world