A cardiologist in Nagpur performs two similar angioplasties. But the stents inside his patients tell two very different stories. One gets Indian-made devices under a government scheme. The other insists on an imported brand.

This contrast is now common across India. Price caps pushed foreign stent makers into a corner in 2017. But they never left.

And now, they’re back with new valves, pacemakers, and high-margin cardiac devices. Domestic players, meanwhile, grew fast but still struggle with data, technology, and trust.

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