Medical device import from China increased by 152%

Medical device exports from the country grew by 17% in the first 9 months of the financial year 2022-23 ending March. While imports decreased by 8%, imports of 30 medical devices from China increased by 25-152% during this period. This information came out from the latest figures of 'The Association of Indian Medical Device Industry'.
According to the latest MEd data given to the Ministry of Commerce and Industry, imports from China increased by 48% year-on-year to reach Rs 12,979 in the financial year 2021-22. Consumables and testing kits are usually imported from China to India.
Medical devices worth Rs 20,511 crore were exported from India in April-December 2022. Whereas in the year 2021, during the same period, medical equipment worth Rs 17,557 crore was exported. During the financial year 2021-22, the export of medical devices increased by 21% on an annual basis to Rs 19,803 crore. During this period, imports increased by 41% to Rs 63,000 crore.
On 26 April 2023, the Central Government approved the National Medical Device Policy 2023. Through this policy, local manufacturing and research of medical devices will be encouraged. This will help in reducing dependence on imports and develop an ecosystem for this sector. This policy will help India to make a place among the top 5 medical device supplier countries in the world.