NEARLY A YEAR after the Union Cabinet approved a policy for the medical devices sector with an aim to cut import dependence and bolster domestic capacities, things have only gone from bad to worse.
At present, over 80% of the medical devices used in India are imported, primarily from the US, China, Germany, Singapore and the Netherlands. One of the key facets of the policy is to bring this down to 30% by 2033.
As per the latest available data, imports have actually shot up 13% in April-December FY24 to ₹51,040 crore as compared to corresponding period in 2022. That's not all. Rajiv Nath, forum coordinator, Association of Indian Medical Device Industry (AiMeD) said that the imports of diagnostics devices have gone up even more substantially.
"There's no progress as far as the policy is concerned," he said.
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