GST rates and the medical devices industry

Let us use the GST rate regime to build up a strong domestic industry in sectors like pharmaceuticals and medical devices that can play to our strengths in labour-intensive production

The Covid-19 crisis has highlighted the need to strengthen our public health system, especially at the primary level. In addition, we need to create strong domestic manufacturing capacities in industries such as pharmaceuticals (especially APIs or active pharmaceutical ingredients going into important formulations) and in the medical devices segment (largely falling under chapter 90 of the International Trade Classification).

The medical devices industry is important for the country for it plays to our strengths. Frugal engineering and interesting innovations have happened in India which make it possible to manufacture medical devices here at a fraction of the cost of imported