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Domestic medical device makers seek hike in basic custom duty


Domestic medical device makers seek hike in basic custom duty

New Delhi: The government needs to increase the basic customs duty on medical devices in the range of 5-15 percent to promote domestic manufacturing, Association of Indian Medical Device Industry (AiMeD) said.

The current slab is 0-7.5 percent, it said.

“The government has rightly revised custom duty on Electronics to up to 20 percent recently to maintain the investment climate, and same is sought for Medical Electronics where import dependency is 90 percent,” AiMeD Forum Coordinator Rajiv Nath told PTI.

He said nominal import duty on critical items is not protectionism but sound ‘Make in India’ economics.

The industry body urged the government to introspect as to why, even after three years of the ‘Make in India’ campaign, the medical device manufacturing is still floundering.

On its expectations from the Union Budget (2018-19), AiMeD said the medical devices sector expects, “extension of inverted duty tariff rationalization to medical electronics & diagnostics”.

It also urged the government to expedite buy Indian policy drafted by Department of Pharmaceuticals which is pending with Ministry of Health and Family Welfare.

AiMeD also asked the Department of Pharmaceuticals to accelerate trade margin capping proposal in the range of 50- 100 percent, depending on the cost of the devices.



Source: PTI
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