Budget Reaction Quote From DR. GSK VELU, FOUNDER AND MANAGING DIRECTOR OF TRIVITRON GROUP OF COMPANIES, INDIA’S LARGEST MEDICAL TECHNOLOGY COMPANY

New Delhi, March 04, 2015: ” While the budget has addressed several macro issues and given focus on health sector by providing disposable income in the public’s hand for healthcare expenses, nothing has been done for the heavily import dependent Medical Devices industry which is the fourth pillar of Healthcare sector like Medical Education, Health Delivery and Pharmaceuticals industry . The Medical Devices industry imports over 27,000 crs of Medical Devices and nothing specific has been done to push up the Prime Minister’s ” Make in India” initiative in this Industry. Like the defence sector Medical Devices sector needs specific focus and Finance Ministry did not even attempt to eliminate the Inverse Duty structure in this industry making it more import dependent now. There are no specific announcements on Innovation and R&D for this sector and if this trend continues we will be importing more than 50,000 crs of Medical Devices in the next three to four years time. While our Honourable Prime Minister himself talked about the need for Make in India program for Medical Devices industry there is nothing in this budget which facilitates this for domestic industry in both SME and Emerging Corporate segments”.CCI Newswire