Fall in customs duty likely on certain medical devices

Industry chamber CII in its has pre-budget memorandum has asked the government to reduce customs duty from 10 per cent to 2.5 per cent on PDS Plates used for nasal reconstructive surgery.

New Delhi: The government may consider reducing customs duty on certain medical devices in the forthcoming budget with an aim to boosting domestic manufacturing of such goods, sources said.

The move would also help promote the government's ambitious Make in India initiative, said the source.

Read Also: National Medical Devices Promotion Council to boost the medical device industry

Industry chamber CII in its has pre-budget memorandum has asked the government to reduce customs duty from 10 per cent to 2.5 per cent on PDS Plates used for nasal reconstructive surgery.

"Reduction of basic customs duty on PDS Plates to 2.5 per cent would reduce the cost and benefit the patients," CII has said.

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The government has recently set up the National Medical Devices Promotion Council (NMDPC) to boost manufacturing, attract investments and promote exports of the fast-growing sector.

Medical devices include any instrument, apparatus, appliance, implant, material or another article, whether used alone or in combination, including the software intended by its manufacturer to be used especially for human beings or animals for one or more of the specific purposes.

India has achieved a major global position in the pharmaceutical sector. However, the same has not been replicated in the medical devices industry.

Currently, 100 per cent FDI is allowed under the automatic route in the medical devices sector to encourage manufacturing of equipment.

The government would present the Budget on February 1.