Wednesday, 17 October 2018

Local makers of medical devices seek increase in custom duty

12 January 2018 | News

AiMeD asked the government to increase the basic customs duty on medical devices to promote domestic manufacturing

According to Association of Indian Medical Device Industry (AiMeD), the government needs to increase the basic customs duty on medical devices in the range of 5-15 per cent to promote domestic manufacturing.

The current slab is 0-7.5 per cent, according to AiMeD Forum Coordinator Rajiv Nath, It should be 20 per cent to maintain the investment climate where import dependency is 90 per cent. 

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 struggling. 

On its expectations from the Union Budget (2018-19), AiMeD said the medical devices sector expects, "extension of inverted duty tariff rationalisation 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 & Family Welfare.

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

Comments

× Your session has been expired. Please click here to Sign-in or Sign-up
   New User? Create Account

Click Here!




Survey Box

Can blockchain help cease fake drug distribution in India?

× Please select an option to participate in the poll.
Processing...   View poll results   More polls

× You have successfully cast your vote.
{{ optionDetail.option }}{{ optionDetail.percentage }}%
{{ optionDetail.percentage }}% Complete
More polls