| |September 20205Medical device and equipment market in India is undergoing a significant transformation with several factors contributing to its evolution. The major ones are the governmental push with regulatory changes and the increasing demand for quality equipment at low cost. The Medical Devices and Equipment industry, valued at US$ 2.5 billion comprises 6 percent of India's US$ 40 billion healthcare sector. It is growing at a faster annual rate of 15 percent than 10-12 percent growth seen in the overall healthcare sector. Although the country has considerable manufacturing capability in the low-end devices segment, the high-end equipment manufacturing has to catch up a lot. Currently, India imports almost 85-90 per cent of the sophisticated medical devices from other countries, primarily China due to low cost. Even though the government has allowed 100 per cent foreign direct investments (FDI) in companies manufacturing medical devices through the automatic route, there is a lot that needs to be done to set necessary infrastructures like supply chain and logistics channels. The government also needs to take steps to reduce the high cost of finance for local manufacturers. Another step in the same direction which is also a demand of medical equipment manufacturers would be to reduce the effective rate of Goods and Service Tax (GST) on medical devices to 5 percent from the present 18 percent. At the same time, there is also a need for the Government to set up import restrictions and duty protection on the import of medical devices in India, which would restrict imports and give a fillip to the growth of local manufacturing. Considering the increasing importance of this market segment, we have studied this industry segment in-depth and have come up with the list of 10 Most Promising Medical and Surgical Equipment Manufacturers who have excelled in this field with their innovative approach. Having proven their dedication to quality and end-to-end addressal of customer requirements, these companies have stood out from the crowd.We look forward to receiving your feedback. Sudhakar SinghEditorsudhakar.singh@theindustryoutlook.comGiving a Fillip to Medical Equipment Manufacturing Vol 2 · Issue 1 · September 10, 2020Publisher Alok ChaturvediEditor Sudhakar Singh Editorial Team Janifha Evangeline Samrat Pradhan Hridkamal Roy Aveek Pal chaudhuri Art & Graphics Ashok Kumar Vetrivel S GM Sales & MarketingVirupakshi Pattarsales@theindustryoutlook.com Editorial Querieseditor@theindustryoutlook.comCirculation Manager Magendran PerumalCover price is Rs. 150 per issue.Printed and Published By Alok Chaturvedi on behalf of Siliconmedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Mu-rugeshpalya, Bangalore-560017.Editor Alok ChaturvediCopyright © 2020 SiliconMedia Technolo-gies Pvt Ltd, All rights reserved. Repro-duction in whole or part of any text, pho-tography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. | | December 20194
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