Winning Bizness Desk

Mumbai. Exports of medical devices from the country have increased by 17% in the first 9 months of the financial year 2022-23 ending in March. While imports remained less than 8%, imports of 30 medical devices from China increased by 25 to 152% during this period. This information came out from the latest data of 'Association of Indian Medical Device Industry'. According to the latest MDG data provided to the Ministry of Commerce and Industry, imports from China rose 48% year-on-year to Rs 12,979 crore in FY 2021-22. Consumables and testing kits are usually imported from China in India.

Medical devices worth Rs. 20,511 crore exported

Medical devices worth Rs 20,511 crore were exported from India in April-December 2022. In the year 2021, during the same period, medical devices worth 17,557 crores were exported. During the financial year 2021-22, exports of medical devices were projected to grow by 21% year-on-year to Rs 19,803 crore. During this period, imports increased by 41% to Rs 63,000 crore.

Govt want to boost manufacturing

On 26 April 2023, the Central Government approved the National Medical Device Policy 2023. Local manufacturing and research of medical devices will be encouraged through this policy. This will help in reducing the dependence on imports and developing an ecosystem for this sector. This policy will help India to become one of the top 5 medical device supplier countries in the world.