Indian Economy News

Import of medical devices rose a record 41% in FY22: Report

  • IBEF
  • July 25, 2022

According to statistics from the commerce ministry analysed by the Association of Indian Medical Device Industry (AiMeD), medical device imports rose by a record 41% to Rs. 63,200 crores (US$ 7.91 billion) in 2021–22 from Rs. 44,708 crores (US$ 5.59 billion) in 2020–21. According to AiMeD's data, the top five countries from which India imports medical devices are China, the US, Germany, Singapore, and the Netherlands, which together accounted for Rs. 37,519 crores (US$ 4.69 billion), or 68%, of the total value of imports.

The report also noted that of the six main categories of imported medical devices, including consumables, disposables, implants, IVD reagents, and surgical tools, the "electronics and equipment" group has had the greatest rise. The value of medical equipment imports into India in 2021–22 increased from Rs. 4,569 crores (US$ 572.07 million) in 2016–17 to Rs. 40,649 crores (US$ 5.08 billion) in 2021–22.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.