Medical entrepreneurs applaud customs duty exemption on cancer medication
By removing these duties, the cost of these medications will be reduced, making them accessible, says Gayatri Kamineni, COO of Kamineni Hospital
Medical entrepreneurs in Hyderabad have welcomed the exemption of customs duties on three cancer medications as announced in the Union Budget 2024-25. “Cancer treatment is notoriously expensive, often placing an overwhelming financial burden on patients and their families. By removing these duties, the cost of these medications will be reduced, making them accessible. This measure is beneficial for those who struggle to afford the high costs associated with cancer care,” said Gayatri Kamineni, COO of Kamineni Hospitals, reacting to the development.
Sangita Reddy, Joint Managing Director of Apollo Hospitals Group, stated, “The change in the Basic Customs Duty (BCD) for X-ray tubes and flat panel detectors under the phased manufacturing programme is a great strategic move. This will reduce costs and boost domestic manufacturing capacity in India.”
Dr. Hari Prasad, Group Chairman and Non-Executive Director of Quality Care India Limited, added, “We anticipate further exemptions for drugs and medical consumables related to other lifestyle diseases, which will help make healthcare accessible to even more people. However, the increase in healthcare allocation compared to the previous year is marginal. There is still a pressing need to substantially bridge the gap in achieving the vision of quality healthcare for all.”
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