Summary:

The Indian government will soon announce a plan to boost domestic production of components for digital X-ray, CT scan, and MRI devices. Currently, most of these components are imported, driving up costs. Arunish Chawla, Secretary of Pharmaceuticals, has promised a 20% capital incentive for investments in domestic manufacturing. The Union Budget for 2024-25 also reduced customs duties on key components. Despite previous support efforts, domestic capacity is still developing, prompting the Department of Pharmaceuticals to adjust its pricing strategy.

The Department of Pharmaceuticals, in collaboration with industry stakeholders, is organizing the Meditech Stackathon 2024 to address import dependence, regulatory challenges, and technological gaps in the medical device sector. Dr. Harsh Mahajan of Mahajan Imaging noted that imported digital X-ray equipment costs between US$ 21,466.65 (Rs. 18 lakh) and over US$ 119,260.58 (Rs. 1 crore). Domestic manufacturing could lower these costs, making medical imaging more affordable and accessible, particularly in primary care settings. Despite India's expertise in generic pharmaceuticals and vaccines, the sector remains heavily reliant on imports, with approximately 70% of products sourced from abroad.

Source: IBEF 

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