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FDI Inflow Into Hospitals & Diagnostic
Centres Grows 89 Per Cent in 2023-24
The Foreign Direct Investment (FDI) equity inflow into the
hospital and diagnostic centres sector in the country has witnessed a growth of
around 89 per cent during the fiscal year 2023-24, while the foreign equity
infusion into the medical and surgical appliances sector grew 21.6 per cent
during the financial year compared to the previous year.
The hospital and diagnostic centres in the country have
attracted a foreign equity fund infusion of $1.53 billion during April, 2023 to
March 2024, as compared to $809.6 million during the previous year, according to
data from the ministry of commerce and industry.
The infusion into the sector has registered 86.7 per cent
growth during the quarter ended March, 2024, at $446.39 million as compared to
$239.09 million fund inflow in the same quarter of last year.
The growth during the fiscal year was the highest at least in
the last five years, and crossed the $1 billion mark after fiscal year 2018-19
when the FDI inflow was reported at $1.04 billion. The year 2022-23 witnessed a
growth of 16.07 per cent to $809.6 million, from $697.5 million in the fiscal
year 2021-22. The fiscal year 2021-22 was a growth of 39.2 per cent from $501.16
million in the previous year, according to the data.
Cumulative fund infusion into the segment from the year
April, 2000 to March, 2024 stood at $10.27 billion, growing from $8.74 billion
till March, 2023.
The medical and surgical appliances sector registered a
growth of 21.56 per cent in FDI equity infusion during the period from April,
2023 to March, 2024, at $482.83 million as compared to $397.2 million during the
previous fiscal year. The quarter ended March, 2024 reported an FDI inflow of
$20.41 million, as compared to $39.57 million reported during the same period of
previous fiscal year, showing a decline in fund inflow.
The growth of FDI inflow was one of the lowest for the
segment during the fiscal year 2023-24 in the last three fiscal years, with the
year 2022-23 reporting a growth of around 91 per cent, and almost three fold
growth in the year before that, at $208.05 million FDI inflow in 2021-22
The cumulative FDI infusion into the sector from April, 2000
to March, 2024, according to the data from the ministry of commerce and
industry, is at $3.29 billion, as compared to $2.80 billion reported from April,
2000 to March, 2023.
(https://www.pharmabiz.com/NewsDetails.aspx?aid=169783&sid=1#:~:text=The%
20Foreign%20Direct%20Investment%20(FDI,cent%20during%20the%20financial%20year)
June 18, 2024
Medical Device Import Grows In Last One
Year In India
In 2023–24, the fiscal year's import of medical devices was
Rs. 68,885 crore, while the previous fiscal year's imports were Rs. 61,179 crore.
It should be mentioned that compared to the Rs. 63,276 crore reported in the
previous fiscal year, imports during 2022–2023 decreased by 3.31%.
New Delhi: During the last fiscal year, the import of medical
devices in India has increased around 13 per cent with disposables accounting
for nearly 17.6% of the growth in comparison to the previous year, according to
data from Association of Indian Medical Device Industry (AiMeD), the umbrella
association of Indian manufacturers of medical devices.
In 2023–24, the fiscal year's import of medical devices was
Rs. 68,885 crore, while the previous fiscal year's imports were Rs. 61,179 crore.
It should be mentioned that compared to the Rs. 63,276 crore reported in the
previous fiscal year, imports during 2022–2023 decreased by 3.31%. Based on
data, imports increased by over 65% in five years, from Rs. 41,709 crore
recorded in 2019–20.
Of the six medical device category groups, disposables saw
the largest increase in imports during the fiscal year, rising 17.63% to Rs.
4,090 crore from Rs. 3,477 crore in 2022–2023. Compared to the previous year's
imports of Rs. 38,540 crore, the country's imports of electronics equipment
increased by 14.5% to Rs. 44,132 crore this year.
From Rs. 4,580 crore in the previous fiscal year to Rs. 5,087
crore in 2023–24, the import of implants increased by 11%. During the fiscal
year, the sector's imports of consumables increased by 8.37 percent to Rs. 7,430
crore from Rs. 6,856 crore the year before. IVD reagent imports increased by 7%
to Rs. 6,477 crore in 2023–24 from Rs. 6,053 crore in the previous year.
Surgical tool imports saw a little decrease, nevertheless, to Rs. 1,670 crore
from Rs. 1,674 crore the year before.
The industry association stated that the nation's exports
totaled Rs. 31,673 crore, with the electronics and equipment segment reporting
the highest exports at Rs. 12,120 crore. This was followed by consumables at Rs.
9,978 crore, disposables at Rs. 5,128 crore, implants at Rs. 2,096 crore, IVD
reagent at Rs. 1,694 crore, and surgical instruments at Rs. 657 crore.
In order to assist the expansion of domestic manufacturing,
the Association has asked Finance Minister Nirmala Sitharaman to boost custom
duty, right the inverted duty structure, and curb trade margins in the next
Union Budget 2024–2025.
Earlier this year, former Union Health Minister Mansukh
Mandaviya had said that India has moved on to become a major exporter of bulk
drugs and medical devices, Union Health Minister, Mansukh Mandaviya. He claimed
that India was working on strategies and schemes to reduce the risk in its
supply chain from the whims of the world and reliance on one nation for the
procurement of APIs needed to make bulk medications.
(https://www.livemint.com/industry/manufacturing/medicaldevice-import-grows-in-last-one-year-in-india-
11721302959252.html) 18 Jul 2024, |
