Budget 2021: FICCI recommends slashing of import duty on medical equipment raw material

FICCI has recommended import duty rationalisation for raw materials of medical equipment to encourage indigenous manufacturing. It has also sought import duty cut for the medical equipment which are not produced in the country.

In a statement, the industry body noted that the quality medical devices not currently available in the country must not face high duties, which will result in the high cost of care and will further add burden to the healthcare economy.

It noted that import duty rationalisation needs to be done based on "products currently not manufactured in India, technology-intensive products which require a lead time of three or more years to develop, high on investment and lower sales volumes and used in diagnosis or treatment of priority disease area."