West Asia conflict raises costs for Indian medical device makers

Business Mar 30, 2026

Indian medical device makers are feeling the pinch as the West Asia conflict pushes up prices for key materials.
Plastics used in syringes and catheters now cost almost 50% more, and packaging and diesel expenses have jumped over 20%.
The main industry group, Aimed, is asking the government to speed up GST refunds and temporarily cut import duties on raw materials to help keep things running smoothly.

Aimed flags raw material tax imbalance

Aimed is also worried about a tax setup where raw materials are taxed higher than finished products, leaving companies stuck with unused tax credits.
They're urging faster GST refunds from last year's rate change and cautioning against lowering duties on imported finished devices, saying it could really hurt local businesses.