Medical Devices

Group wants basic custom duty on import of medical devices increased to 10-15%

Union Minister for Science and Technology Jitendra Singh on Tuesday said India is among the top five countries in the world manufacturing life-saving high-risk medical devices but the cost of our devices is about one-third of those manufactured by the other four countries.Addressing the faculty and students after inaugurating the Combined Devices Block at Chitra Tribunal Institute of Medical Science and Technology here, Singh said, "technologies developed by the Institute like the artificial heart valve, hydrocephalus shunt, oxygenator and drug eluting Intra uterine device are being manufactured in three to four countries like USA, Japan, Brazil and China," said a press release by Ministry of Science & Technology.Singh said the world-class medical devices made indigenously are available to Indian patients at approximately one-fourth to the one-third price of their imported counterparts. He underlined that this reflects the Atmanirbhar vision of PM Modi to become self-reliant in .

The Infosys Prize focuses on the achievements of the recipients and awards them for their contributions to science and research impacting India

Data suggests bulk of the exports will come from largescale electronic manufacturing, which is dominated by mobiles

The Parliamentary Standing Committee on Health and Family Welfare has recommended setting up of a new set of regulators at different levels for regulating the medical Devices industry

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India currently exports Rs. 23,766 crore (2021-22) of medical devices up from previous year Rs 19,736 crore

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The non-invasive, battery-operated device is sensitive to one-hundredth of a millimetre (10 micrometers) and can beam results to a smartphone app wirelessly in real-time with the press of a button.

The report presented in the Parliament by a standing committee stated that along with more testing labs, the country needs a robust IT-enabled and feedback-driven post-sales surveillance system

There are demands to extend production linked incentive (PLI) scheme to more sectors such as certain electronic components, pharma and medical devices, and discussions are underway in the government on these proposals, a senior government official said. Discussions are also going on to bring PLI scheme for toys, furniture, bicycles and containers. The objective of the scheme is to make domestic manufacturing globally competitive, create global champions in manufacturing, boost exports and create jobs. The government last year rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, textiles, advanced chemistry cell (ACC) and speciality steel. "So, from Rs 1.97 lakh crore, there are savings from some sectors. So against those savings, things are being planned. Proposals are under consideration," the official said. Demand for including sectors like certain electronic components, toys, furniture,

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India's medical devices imports surged 41 per cent to touch Rs 63,200 crore in 2021-22, led by a 48 per cent year-on-year (YoY) jump in imports from China. Read more in our top headlines

China accounts for about one-fifth of FY22 numbers; 41% surge overall

Centre also proposes to have an expert group on medical devices

Also, for the first time, regulations for conduct of clinical trials for new drugs and medical devices have been brought under the draft New Drugs, Medical Devices and Cosmetics Bill, 2022

The government has also cancelled several orders of various manufacturers giving quality reasons

Union minister Mansukh Mandaviya has exhorted the industry to take concrete efforts towards increasing local production of medical devices while stressing that the sector has huge potential for growth

Health care-focused REITs needs to be encouraged to finance infrastructure

The organisation noted that the reduction of GST on medical devices and medical cold chain from 12 per cent to 5 per cent would lead to the expansion of the healthcare sector through reduced costs