Views on 100% FDI in Medical devices by Dr. GSK Velu, Trivitron

But overall it is a good news Government is willing to listen to the views of over 750 Indian Manufacturers in this segment and implement changes to the tariff structure and regulatory structure in the upcoming budget. Indian Manufacturers are of the view Government should do away with 100% Customs duty exemption for all product categories as this has not benefited the end patients over the past two decades. As per the recent reports in the media, a Drug Eluting Stent which is being manufactured for Rs 5000 is being imported to India with around Rs 40,000 with nil Customs Duty and the end patient pays around Rs 1.5 lakhs for the same. Hence there is no rationale for Zero Customs duty for any Finished Goods imports and there should be atleast 20% customs duty exemption between Finished Goods imports and Raw Materials/ Components import for ultimate manufacturing in the country. Hence there is an urgent need to boost innovation and manufacturing in this Industry of 35,000 crs with over 80% imports and as a largest Medical Technology company of Indian Origin with 8 Functional US FDA and/or CE certified facilities and 4 R&D facilities, Trivitron is in the forefront of interacting with government through various industry associations like FICCI, AIMED and Assocham to create the right eco system for the Medical Devices Industry to remove import dependency and make India Outward looking with substantial exports in around 5 to 10 years from now.”CCI Newswire