Local medical device makers bat for 15% import duty
Domestic medical device makers urge the government to impose up to 15% import duty to reduce reliance on inbound shipments. Imports have increased by over 21% in the past 12 months, reaching ₹61,000 crore. The industry specifically highlights the steep increase in imports from the US, Germany, the Netherlands, China, and Singapore. To address this, the industry calls for a predictable tariff policy, correction of inverted duty, and the imposition of a 5% health cess on remaining medical devices. They also expect an increase in custom duty to a nominal 10-15% in the Budget.
Source: indiatimes.com
