Medical technology, a segment under the large umbrella of the healthcare system in India is growing significantly over the last decade at a CAGR of 12-15%. Today India is counted among the top 20 global medical devices market and is the 4th largest market in Asia. This article attempts to assess the present scenario of the medical technology industry in India in terms of market sizing and structure, the key growth drivers, government initiatives to support the growth of the Med Tech industry, recent trends, changing market dynamics and the way forward to achieve the growth projection. To check the reality of the growth story we have performed a systematic review of articles and published data related to the Medical Technology industry in India. Our review shows that the industry is in the right direction and the market is expected to grow at a 37% CAGR and increase from US$ 10.36 billion in 2020 to reach US$ 50 billion in 2025.