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The Association of Indian Medical Device Industry (AIMED) has urged the Centre to unveil a new policy for the medical devices sector.
"Considering the Centre's 'Make in India' vision is good, the policy needs to be rolled out quickly as India is a large importer of medical devices," said Rajiv Nath, Joint Coordinator, AIMED.
Industry watchers point out that more than 80 per cent of medical devices are imported, which included even thermometers, until a few years back.
Medical Devices are a different category of products from pharmaceutical, though they fall under the healthcare vertical. "For some strange reason we have been governed by the Drugs and Cosmetics Act, 1940, which has thwarted the growth of the medical device industry in India,” said Nath.
In line with that the government had released a policy draft in June. The recommendations include financial support to manufacturing units, reversal of the inverted duty structure, MRP-based taxation system, creation of a separate department, and a separate law for medical devices were of particular significance to give the required push for medical device manufacturing in the country.
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