Faculty members of IIT Bombay are advocating for the commercialisation of research to boost the development of indigenous medical technology. Prof. Deba Jani Paul from the Department of Biosciences and Bioengineering highlighted the need to reduce dependence on imported medical devices, which currently constitute around 70% of the market.

She emphasised the importance of creating technology within India and encouraging students and faculty to become entrepreneurs, noting that they often pursue PhDs and academic positions but can also venture into starting their own companies.

Prof. Paul stressed the necessity of basic research to generate intellectual property and develop commonly used medical devices domestically. She cited blood cell counters as an example, mentioning that IIT Bombay is funding a project to build these devices, which are currently imported.

Dr. Abdur Rub, CEO of the Wadhwani Research Centre for Bioengineering at IIT Bombay, remarked on the significant progress made in the pharmaceutical sector over the past two decades. India, once heavily reliant on pharmaceutical imports, is now known as the "pharmacy of the world."

Dr. Rub expressed optimism that the medical device sector could follow a similar trajectory, given the increasing investments from private philanthropists and the Indian government. He emphasized the importance of financial investment to complement India's human capital in achieving this goal.