Pharma and medical devices makers have urged the government to take steps such as ...

Pharma and medical devices makers have urged the government to take steps such as differentiated GST rate for pharmaceutical firms and separating medical devices from drugs through a new Act, industry body FICCI said.

Chief executives of pharma and medical devices firms, who met Union Minister of Chemicals and Fertilisers Ananth Kumar during the third edition of the India Pharma and Medical Device 2018 conclave, also said they are eagerly awaiting the swift implementation of the Ayushman Bharat insurance schemes, the Federation of Indian Chambers of Commerce and Industry (FICCI) said in a statement.

CEOs of medical devices firms requested the government to separate medical devices from drugs through a new Act, in accordance with global best practices, it added.
 

They also stated that India must abide by globally harmonised standards like ISO and IEC which will allow Indian firms to export medical devices and ensure safety of Indian patients.

Chief executives of the sector also requested that "the government draft a Medical Device Policy for inclusive growth of the sector, it added.

They also asked for trade margin rationalisation to ensure affordable medical devices for all and an early decision regarding the matter to end business and strategic uncertainty, the statement said.

The government's move not to increase import duty was also hailed by them as a positive step towards maintaining affordability for the Indian patients in a highly out-of-pocket scenario, it added.

On the other hand, the pharma industry leaders asked for a differentiated GST rate for pharma companies.

CEOs of the pharma firms said the country "urgently needs revival of domestic API industry to reduce dependence on imports. The government needs to encourage innovation and Make in India to promote Indian manufactured drugs.

They also asked for rationalisation of regulators in the pharma sector and greater transparency in the working of the National Pharmaceutical Pricing Authority (NPPA), the statement added.

Pharma industry leaders also strongly urged the government to create a level playing field such as in the case of testing fee for products exported to China as compared to Chinese products.