(MENAFN- KNN India) New Delhi, May 8 (KNN) In a significant milestone, India has become a net exporter of medical consumables and disposables like needles and catheters for the first time, Union Pharma Secretary Arunish Chawla announced on Tuesday.
The country exported USD 1.6 billion worth of these products in 2022-23, while imports were only around USD 1.1 billion - reversing the previous trend of import domination. Exports grew 16 per cent compared to last fiscal, while imports declined by 33 per cent.
"The government is seeking to replicate this success across other medical device segments to reduce import dependence," Chawla said at an event organised by his department and the CII industry body, reported TOI.
India's heavy reliance on imports, especially from China, for essential medical supplies like PPE kits during the Covid-19 pandemic prompted this push for self-sufficiency.
Although a leading generic drug and vaccine maker, around 70 per cent of the country's medical device needs are met through imports.
The government has categorised medical devices into cancer therapy, imaging, critical care and other segments. It plans to identify key products, assess trade dynamics, and tweak duty structures to promote domestic manufacturing.
Industry leaders lauded the consumables-disposables export surplus as an outcome of the demand spike during Covid that catalysed capacity expansion by Indian manufacturers in this segment.
(KNN Bureau)
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