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The government needs to increase the basic customs duty on medical devices in the range of 5-15 per cent to promote domestic manufacturing, Association of Indian Medical Device Industry (AiMeD) said today.
The current slab is 0-7.5 per cent, it said.
"The government has rightly revised custom duty on Electronics to up to 20 per cent recently to maintain the investment climate, and same is sought for Medical Electronics where import dependency is 90 per cent," AiMeD Forum Coordinator Rajiv Nath told PTI.
He said nominal import duty on critical items is not protectionism but sound 'Make in India' economics.
On its expectations from the Union Budget (2018-19), AiMeD said the medical devices sector expects, "extension of inverted duty tariff rationalisation to medical electronics & diagnostics".
AiMeD also asked the Department of Pharmaceuticals to accelerate trade margin capping proposal in the range of 50- 100 per cent, depending on the cost of the devices.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)