India faces lower duty than other countries like China (34 percent), Vietnam (46 percent) and Taiwan 32 (percent).
“While India may seemingly gain a marginal price advantage over China (8 per cent) in certain low-risk, high-volume consumables, the real impact may not be significant if our prices were higher than 15 per cent and the impact has to be further studied compared to other competing nations,” Poly Medicure MD Himanshu Baid stated.
Despite the tariff challenges, India’s primary obstacle remains non-tariff barriers rather than tariffs themselves, he added.
“Regulatory hurdles in the US are steep, with FDA approval costs ranging from USD 9,280 to over USD 540,000, whereas US exporters face relatively minimal costs when entering India. Addressing these imbalances through bilateral collaboration is crucial,” Baid stated.
Nath sought government support in bilateral negotiations for a balanced approach to tariffs and regulatory policies as an essential requirement to position India as a competitive global player in the medical device industry.