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The Indian innovation ecosystem is a vibrant space, and India has emerged as the world's third-largest startup economy. Biotechnology, Digital healthcare and Medical devices have emerged as three key sectors in the innovation ecosystem of India. However, there has been no systematic understanding of the evolution and application of healthcare innovations in these sectors and their role in the Indian healthcare system. This study addresses this gap and aims to understand the nature and scope of these innovations in India. The study analysed secondary and primary data (expert interviews) from the above three sectors to create an innovation diffusion framework based on the empirical findings. The application of innovation in the biotechnology sector has resulted in many frugal innovations which have global applicability. Digital innovations have contributed to convenience in access to healthcare and medicines. However, their impact is dependent on supporting infrastructure and digital literacy. Medical device innovations have significantly increased since the launch of the Startup India policy and during the COVID-19 pandemic. However, further research is required to assess the impact of these healthcare innovations towards Universal Health Coverage.