Wipro GE Healthcare MD Shravan Subramanyam hope to see formalisation of Medical Devices Policy

Dr. Shravan Subramanyam, Managing Director, Wipro GE Healthcare Pvt Ltd

"The Union Budget FY 2022-23 was welcomed by the industry for its comprehensive approach towards development of the healthcare infrastructure and facilities, with the increase in capex to Rs 7.5 lakh crores. Key strengths of the last year’s budget for healthcare included the government’s efforts to implement digitalization of the healthcare, in line with Digital India Mission by rolling out of Ayushman Bharat Digital Mission (ABDM), which will help deliver quality care at scale. From the coming budget, we expect the further strengthening of ABDM along with implementation of cybersecurity and data protection policies in consultation with industry. Against the backdrop of India’s nationwide 5G rollout in 2022, key announcements on allocations and policies that can influence 5G deployment for faster and safer healthcare delivery are awaited. With rising incidences of both communicable and non-communicable diseases post Covid-19, further strengthening of infrastructure and bridging human resource and skill deficiencies for care area deliveries across Tier 2- Tier3 cities, semi-urban and rural areas focusing on promotion, prevention, therapy and post care is expected from this year’s budget."

"Over recent years, the government has spurred efforts to support local R&D and manufacturing for the MedTech sector by setting up Medical Device Parks and implementing PLI schemes. We anticipate expansion of PLI scheme for MedTech Sector with adequate flexibility integrated in the scheme to address the ever-evolving market dynamics to truly make Indian domestic manufacturing, globally competitive. Rationalization of GST for MedTech sector, extending zero rating and schemes like Remissions of Duties and Taxes on exported products (RODTEP) to Export Oriented Unit (EOU) /Electronic Hardware Technology Park (EHTP) will provide the needed impetus to local manufacturing for domestic use and exports. We also hope to see the formalization of the greatly needed Medical Devices Policy, which can facilitate well-structured growth for the sector and help accelerate our capabilities to innovate, manufacture with self-reliance and export. While the thrust on local manufacturing is needed to reduce the import dependency, we have to be cognizant that it will take substantial time to start manufacturing high end-high value equipment & devices in the country. Exemption of customs duty on the import of high end MedTech equipment will help in reducing the cost of healthcare for the end customers i.e., the patients."