India's medical devices market is one of the fastest growing in the world, driven by factors such as its increasing population, rising middle class, and governmental support.

Nevertheless, the market is characterised by intricate regulations, posing distinct challenges for stakeholders. When coupled with cost constraints and insufficient investment in research and development, the sector experiences adverse effects. By implementing a well-defined regulatory roadmap, placing a stronger emphasis on Production-Linked Incentive (PLI) schemes, and leveraging the benefits of the Make in India programme, the industry is poised for an upward trajectory.

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The Grant Thornton Bharat advantage

  • Support across value chain
  • Technical expertise
  • Business advisory
  • Support across value chain
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    We support the complete R&D value chain, right from ideation to research, development, and implementation.
  • Technical expertise
    Technical expertise
    Our dedicated healthcare team's technical expertise, commitment to understanding your concerns, and agile approach help you grow in the medical devices sector.
  • Business advisory
    Business advisory
    We offer tailored business advisory services to help our clients reach greater levels of success.
Teal Background

Supporting a global leader in robotic surgical products

1.
Problem statement
The client is a global leader in the rapidly emerging field of robotic-assisted minimally invasive surgery. The India entity is engaged in providing sales and post-sales support services to customers in India. The client was looking for a...
2.
Our Solution
Our team deployed two dedicated on-site accounting personnel to function as part of the client’s extended finance team. They managed regular bookkeeping and collaborated with cross-functional teams to ensure compliance with all timelines....
3.
Impact
The engagement resulted in the establishment of a robust accounting and compliance management system, smooth and timely book closure and monthly reporting, effective implementation of internal controls, and timely completion of annual...
UK-based global scientific instruments developer & manufacturer

UK-based global scientific instruments developer &...

1.
Problem statement
The client is one of the world’s leading developers and manufacturers of innovative scientific instruments and software designed to optimise the efficiency, safety, and productivity of key processes in chemistry and biology applications....
2.
Our Solution
Our team assisted the client in opening a sales and marketing office in Mumbai to facilitate business expansion in India. We provided guidance on entity incorporation, funding options, and the implementation of an accounting ERP. Our...
3.
Impact
Through a smooth initial setup of the company with Grant Thornton Bharat's support, the client was successfully able to manage regular operations and related compliances.