The Indian medical technology (medtech) industry has expressed significant disappointment following the Union Budget 2025, citing the government's failure to address critical sectoral demands. Despite the industry's anticipation for supportive measures, the budget did not introduce a dedicated fund for research and development (R&D) in medical technology, a longstanding request from industry associations.
Rajiv Nath, Forum Coordinator of the Association of Indian Medical Device Industry (AiMeD), acknowledged the budget's positive macro-economic and policy directions aimed at strengthening the economy. However, he expressed disappointment over the absence of investment promotion measures for the medtech sector. Nath highlighted the industry's expectation for the government to address the sector's 70% import dependence, exacerbated by inadequate tariff protection with duties ranging from zero to 7.5% in most cases. He noted that the import bill is projected to exceed ₹75,000 crore this year.
Pavan Choudary, Chairman of the Medical Technology Association of India (MTaI), lauded initiatives such as the establishment of daycare cancer centres and human resource development. However, he emphasized the industry's hope for reductions in customs duties on medical devices that are not substitutable in the near term.
The medtech sector had also anticipated the introduction of a dedicated fund for R&D to foster innovation and reduce import dependence. The absence of such a fund in the budget has been a significant letdown for industry stakeholders.
In summary, while the Union Budget 2025 includes measures aimed at economic growth and healthcare infrastructure development, it has notably overlooked the specific needs of the medtech industry. The lack of targeted support for reducing import dependence and promoting domestic manufacturing has left industry leaders concerned about the future competitiveness and self-reliance of India's medtech sector.
Source: Insights Citeline
#medtechstartup #medtechinindia #dseidehealthcarenetwork
Rajiv Nath, Forum Coordinator of the Association of Indian Medical Device Industry (AiMeD), acknowledged the budget's positive macro-economic and policy directions aimed at strengthening the economy. However, he expressed disappointment over the absence of investment promotion measures for the medtech sector. Nath highlighted the industry's expectation for the government to address the sector's 70% import dependence, exacerbated by inadequate tariff protection with duties ranging from zero to 7.5% in most cases. He noted that the import bill is projected to exceed ₹75,000 crore this year.
Pavan Choudary, Chairman of the Medical Technology Association of India (MTaI), lauded initiatives such as the establishment of daycare cancer centres and human resource development. However, he emphasized the industry's hope for reductions in customs duties on medical devices that are not substitutable in the near term.
The medtech sector had also anticipated the introduction of a dedicated fund for R&D to foster innovation and reduce import dependence. The absence of such a fund in the budget has been a significant letdown for industry stakeholders.
In summary, while the Union Budget 2025 includes measures aimed at economic growth and healthcare infrastructure development, it has notably overlooked the specific needs of the medtech industry. The lack of targeted support for reducing import dependence and promoting domestic manufacturing has left industry leaders concerned about the future competitiveness and self-reliance of India's medtech sector.
Source: Insights Citeline
#medtechstartup #medtechinindia #dseidehealthcarenetwork
The Indian medical technology (medtech) industry has expressed significant disappointment following the Union Budget 2025, citing the government's failure to address critical sectoral demands. Despite the industry's anticipation for supportive measures, the budget did not introduce a dedicated fund for research and development (R&D) in medical technology, a longstanding request from industry associations.
Rajiv Nath, Forum Coordinator of the Association of Indian Medical Device Industry (AiMeD), acknowledged the budget's positive macro-economic and policy directions aimed at strengthening the economy. However, he expressed disappointment over the absence of investment promotion measures for the medtech sector. Nath highlighted the industry's expectation for the government to address the sector's 70% import dependence, exacerbated by inadequate tariff protection with duties ranging from zero to 7.5% in most cases. He noted that the import bill is projected to exceed ₹75,000 crore this year.
Pavan Choudary, Chairman of the Medical Technology Association of India (MTaI), lauded initiatives such as the establishment of daycare cancer centres and human resource development. However, he emphasized the industry's hope for reductions in customs duties on medical devices that are not substitutable in the near term.
The medtech sector had also anticipated the introduction of a dedicated fund for R&D to foster innovation and reduce import dependence. The absence of such a fund in the budget has been a significant letdown for industry stakeholders.
In summary, while the Union Budget 2025 includes measures aimed at economic growth and healthcare infrastructure development, it has notably overlooked the specific needs of the medtech industry. The lack of targeted support for reducing import dependence and promoting domestic manufacturing has left industry leaders concerned about the future competitiveness and self-reliance of India's medtech sector.
Source: Insights Citeline
#medtechstartup #medtechinindia #dseidehealthcarenetwork
