India Slashes Customs Duty on Life-Saving Drugs

Finance Minister Nirmala Sitharaman announced an exemption of customs duty on 36 life-saving drugs, including those for cancer and rare diseases, during her budget speech. This move aims to ease patient costs and increase access to critical medicines. Collaborations between healthcare providers and policymakers are expected to improve.

In an effort to make healthcare more accessible, Finance Minister Nirmala Sitharaman proposed a full exemption of customs duty on 36 life-saving drugs. The move, announced during her budget address, targets medicines used for cancer, rare diseases, and other severe chronic illnesses.

The government previously reduced the customs duties on drugs such as Trastuzumab Deruxtecan, Osimertinib, and Durvalumab from 10 percent to zero. Sitharaman emphasized the importance of this initiative in providing relief to patients grappling with debilitating diseases.

Industry leaders, including Sudarshan Jain of the Indian Pharmaceutical Alliance and Prathap C Reddy of Apollo Hospitals, praised the government's action. Jain highlighted the expected improvement in drug access across the nation, while Reddy pointed to the potential impact on oncology care and doctor-patient ratios.

(With inputs from agencies.)