Mumbai, Jan. 8: Life saving drugs, artificial limbs and specified rehabilitation aids are becoming more accessible.

The government has slashed customs duty on life saving bulk drugs, formulations and medical equipment to 5 per cent. The Centre also clarified that these items will be exempted from countervailing duty by way of excise duty exemption.

Further, customs duty on parts of artificial limbs and specified rehabilitation aids was reduced to 5 per cent and exempted from countervailing duty. This apart, excise duties on dental, medical, surgical equipment have been brought down to 8 per cent from 16 per cent .

The pharmaceutical industry responded positively to the government’s move. Though the industry awaited details, they pointed out that lowering of duties would not have an adverse impact on the domestic industry.

According to Kamal Sharma, managing director, Lupin, “The lowering of customs duty won’t have much of an adverse impact on the Indian pharmaceutical industry because prices in India are already among the lowest in the world. At the international level, the Indian drug industry is already recognised as one of the most competitive,” he said.

Analysts here added that bringing down of duties on medical equipment would aid Wockhardt, which has a hospital division apart from others that includes Apollo Hospitals.