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| No custom duty on 36 life-saving medicines | | | New Delhi, Feb 1: Finance Minister Nirmala Sitharaman on Saturday proposed to fully exempt customs duty on 36 drugs used in the treatment of cancer, rare diseases and other severe chronic diseases.
The government had earlier cut customs duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil.
"To provide relief to patients, particularly those suffering from cancer, rare diseases and other severe chronic diseases, I propose to add 36 lifesaving drugs and medicines to the list of medicines fully exempted from Basic Customs Duty (BCD)," Sitharaman said while presenting 8th consecutive Budget.
She also proposed to add six life-saving medicines to the list attracting concessional customs duty of 5 per cent.
"Full exemption and concessional duty will also respectively apply on the bulk drugs for the manufacture of the above," Sitharaman stated.
She noted that specified drugs and medicines under Patient Assistance Programmes run by pharmaceutical companies are fully exempt from BCD, provided the medicines are supplied free of cost to patients.
"I propose to add 37 more medicines along with 13 new patient assistance programmes," Sitharaman said.
Indian Pharmaceutical Alliance Secretary General Sudarshan Jain said exemptions and concessional duty on essential medicines will improve drug access to critical treatments nationwide.
Apollo Hospitals Founder and Chairman Prathap C Reddy said the setting up of 200 daycare cancer centres in district hospitals and the inclusion of critical medicines for rare diseases, cancer, and severe chronic conditions under custom duty exemptions are commendable steps.
These measures will reinforce national efforts in fighting non-communicable diseases and reducing out-of-pocket expenses for patients, he added.
"The addition of 10,000 medical seats by next year with an aim to add 75,000 medical seats over the next five years will help bridge the doctor-patient ratio, while the establishment of 200 cancer centres will significantly enhance oncology care across the country," Max Healthcare Institute Chairman and Managing Director Abhay Soi said.
The exemption of customs duty on critical drugs for cancer and rare diseases is a much-needed step to make advanced treatments more affordable, he added.
Alembic Pharmaceuticals MD Shaunak Amin said the duty exemptions on 36 life-saving medicines and bulk drugs will further bolster the industry and enhance collaboration between healthcare providers, policymakers, and manufacturers.
Paras Health MD Dharminder Nagar said, "We commend the government's decision to exempt basic customs duty on 36 life-saving drugs, including those for cancer, rare diseases, and chronic conditions. This crucial move will reduce treatment costs and make healthcare more affordable for patients."
Deloitte India Partner Shuchi Ray said the step of reducing import duties for cancer medicines and other life-saving medicines. |
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