Union Budget 2025 updates: Medtech industry calls for standard GST rate
Union Finance Minister Nirmala Sitharaman is set to present the 2025-26 Budget on February 1. Ahead of the Budget presentation, various sectors have raised their concerns and expectations.
The medical devices manufacturing sector has outlined a comprehensive wishlist for the upcoming Budget. Key demands include the standardisation of GST rates, increased export incentives, and monitoring of minimum retail prices for imported devices.
Himanshu Baid, Managing Director of Poly Medicure, emphasised that the government could consider setting a uniform 12 per cent GST rate for all medical devices. This would streamline the tax system, providing greater consistency and ease of business operations.
Additionally, the industry has called on the Centre to raise export incentives under the Commerce Ministry’s RoDTEP scheme from the current range of 0.6-0.9 per cent to 2-2.5 per cent.
