AIMeD calls Budget 2025 as disappointing for medical devices industry

As per the industry body, there is no investment promotion measure for the 70% imports dependent Medical Devices Sector

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New Delhi: Rajiv Nath, Forum Coordinator, Association of Indian Medical Device Industry (AiMeD) has appreciated the overall macro-economic and policy direction measures announced in the Union Budget 2025. “There are many key features in the Budget announcements that will strengthen the economy and propel the GDP growth.”
“Some of the important steps that are in the right direction are setting up of Manufacturing Mission and support measures for the MSMEs & Startups. The measures to boost R&D and innovation in the domestic industry are also a welcome move. Government’s intention to have a trust-based light regulatory mechanism and decriminalization of several laws further is also a correct and much-needed approach,” said Nath.
Nath, on behalf of the medical devices industry, expressed disappointment over the fact that there is no mention of any investment promotion measures for the imports dependent sector in the main speech and had hoped that there will be some measures to boost the sector in the fine print.
He said, “The Industry is disappointed that expectations of the Medical Devices sector and many of which had been supported by Dept of Pharmaceutical too as an investment enabler under the National Medical Device 2023 policy finds no mention in the speech. We were hoping to see the finance minister speak about Medical Devices as make in India enabler and address the 70% import dependence due to inadequate tariff protection with duties at zero to 7.5% in most cases and an ever-rising imports bill that is expected to cross Rs 75,000 crore this year.”