Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
ECONOMY

Govt to Waive Import Duty on Medical Equipment in PLI Scheme

The center to permit the duty-free import of parts used in the manufacturing of oxygen concentrators and other delivery-related equipment in the existing Production Linked Incentive (PLI) scheme for medical devices.


The second wave of COVID-19 cases in the country has caused a sharp spike and demand for medical oxygen has increased a lot. The government had in April waived customs duty on import of medical oxygen and some oxygen-related equipment such as cylinders, concentrators, and storage tanks, effective for a period of three months.


The Prime Minister’s Office (PMO), NITI Aayog, and the Department for Promotion of Industry and Internal Trade (DPIIT) are working on a concept to increase the supply of medical equipments and medical oxygen in the country. The government is considering MRP labeling and price rationalization of oxygen concentrators.


The plan is also looking to permit the import of zeolite to an aluminum state-run company, the report added. Zeolite is used in oxygen concentrators to absorb nitrogen. “Deliberations are on and the PMO has directed that a plan be drawn up to reduce any oxygen shortage in the country,” an official told.

Get Daily Prediction & Stocks Tips On Your Mobile