AIMED Urges Government To Reassess Medical Device Import Duties

2025-03-20 02:08:10

(MENAFN- KNN India) New Delhi, Mar 20 (KNN) The Association of Indian Medical Device Industry (AIMED) has called on the central government to reconsider recent discussions on reducing import duties on medical devices from the United States.

The domestic medical device manufacturers' lobby raised concerns over the potential impact on the Indian industry, emphasising the need for a balanced approach.

This appeal comes shortly after the economic think tank Global Trade Research Initiative (GTRI) urged Indian officials to seek reciprocal trade terms in negotiations with the European Union for a proposed Free Trade Agreement (FTA).

The organisation highlighted the necessity of improving market access for Indian medical devices in international markets.

Rajiv Nath, Forum Coordinator at AIMED, stated that India already maintains low tariff rates on medical device imports, leading to over 70 per cent dependence on foreign supplies.

The US is the largest exporter to India, with imports surging by 66.3 per cent from Rs 7,547 crore in FY20 to Rs 12,552 crore in FY24.

Key medical device imports from the US include mass spectrometers, gas analysis apparatus, and MRI machines. Nath noted that India currently imposes basic customs duties (BCDs) ranging from 0 per cent to 7.5 per cent on these imports, making the domestic sector vulnerable.

AIMED urged the government to adopt a holistic approach, considering both tariff and non-tariff barriers (NTBs) such as regulatory approvals.

The association emphasised that Indian manufacturers face high costs and prolonged approval timelines when attempting to enter the US market.

Additionally, AIMED recommended stricter regulations on maximum retail prices (MRP) and trade margins for essential medical consumables and implants like stents.

The association stressed the importance of a fair trade arrangement that ensures uniformity in tariff and regulatory measures between India and the US.

(KNN Bureau)

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