Medical Devices Industry Outlook In 2023, Cautiously Optimistic

Sadly, after over two years of PM Narendra Modi’s call for self-reliance Aatmanirbhar Bharat, India’s trade deficit with China is still on high rise and widened to a record USD 72.9 billion in 2021-22. Even in case of Medical Devices China remained the top import source for India as medical device imports from China grew 48 per cent from Rs 9,112 crore in 2020-21 to Rs 13,538 crore in 2021-22