India may alter medical device taxation that favors imports

India's medical device manufacturers hope the government's annual budget will address taxation that skews in favor of imported devices. With domestically produced devices facing heavier taxes, the country has turned to foreign-produced, imported devices--around 80% of India's medical device market. The low import duty and duty-free situation for foreign-made products diminish any incentive for companies to produce devices domestically, and has driven up the price of the healthcare market for the average patient. Story

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