Schedule a Call Back
India exports medical consumables & disposables worth $1.6 billion in FY 2022-23
Articles- May 10,24
India became a net exporter of medical consumables and disposables in fiscal year 2022-23, exporting $1.6 billion worth while importing $1.1 billion, marking a reversal in a longstanding trend.
India has reversed an age old trend and for the first time became a net exporter of medical consumables and disposables. India exported medical consumables and disposables worth $1.6 billion in FY 2022-23, surpassing imports which worth around $1.1 billion
India exported medical consumables and disposables worth $1.6 billion in the fiscal year 2022-23. During this period the imports amounted to about $1.1 billion.
According to Arunish Chawla, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, “India has exported consumables and disposables worth $1.6 billion in the fiscal year 2022-23; surpassing imports which worth approximately $1.1 billion.”
Exports saw a 16 per cent surge over the previous fiscal year, whereas imports witnessed a 33 per cent.
India has also reversed the earlier trend where shipments of products such as needles and catheters completely dominated the market.
Chawla further said the government aims to replicate this achievement in other segments including surgical instruments and electronic equipment to lower dependence on imports.
Post Covid outbreak in 2019, the government has decreased its dependency on imports of essential pharmaceutical products and devices.
This was also done after China started to control supplies of everything, ranging from basic chemicals to PPEs, and testing kits.
“During Covid, demand for consumables and disposables increased tremendously which pushed the industry towards augmenting its manufacturing,” a report by The Times of India quoted Himanshu Baid, chairman of CII’s national medical technology forum, as saying.
India is now recognised as a major pharmacy to the world due to its generic medicines and low-cost vaccines. However, in the medical devices sector, the country continues to remain largely dependent on imports with around 70 per cent of the products being sourced from other nations, with China being among the major sources of imports.
(Source: Firstpost)
Related Stories
Electrical & Electronics
Indian Cabinet approves 4 new semiconductor projects worth Rs 46 bn
India clears four semiconductor plants worth Rs 46 billion in Odisha, Punjab, and Andhra Pradesh, boosting defence, automotive, and electronics sectors under ISM.
Read moreRailways
Transrail Lighting bags Rs 7 bn orders in power and infrastructure sectors
Transrail Lighting wins Rs 7.01 billion in new domestic and international orders, taking FY26 order inflow beyond Rs 23 billion across T&D, civil, and poles & lighting businesses.
Read moreAutomation & Robotics
FAULHABER expands into India with new sales office at Pune
With the new sales office in Pune, FAULHABER strengthens its presence in India’s high-tech market, offering local support and tailored miniature drive system solutions for key industries.
Read moreRelated Products
Programmable Controllers - Pcd-33a Series
CHEMICAL PROCESS, FOOD/PHARMA EQUIPMENT & ANALYTICAL INSTRUMENTS
Pro-Med Instruments (P) Ltd offers a wide range of programmable controllers - PCD-33A Series.
Gasket Graphite Powder
CHEMICAL PROCESS, FOOD/PHARMA EQUIPMENT & ANALYTICAL INSTRUMENTS
Arihant Packing & Gasket Company offers a wide range of gasket graphite powder.
Asahi Kasei expands 3D printing filament sales in North America
CHEMICAL PROCESS, FOOD/PHARMA EQUIPMENT & ANALYTICAL INSTRUMENTS
Asahi Kasei, a leading resin and compounding technology provider, has initiated the sales of 3D printing (3DP) filaments in North America through Asahi Kasei Plastics North America (APNA). The soft la Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
