AdvaMed Statement on Union Budget
“Increase in health sector budget will make the healthcare system in India more resilient”
New Delhi, 1st February 2021: Today, The Advanced Medical Technology Association (AdvaMed) – the largest trade association for medical technology and supply companies in the world – commended the Honorable Finance Minister and the Government of India for moving to increase the health sector budget to 2,23,846 crore, a 137% increase over the previous year. AdvaMed Vice President of Global Strategy and Analysis Abby Pratt released the following statement:
“A larger health sector budget will inspire a stronger, more resilient public healthcare system in India. That kind of strength and resilience is especially critical right now, as India and the rest of the world respond to the COVID-19 pandemic.
“There’s no question that the pandemic has shaken India’s healthcare system, but it has not shattered it. The Indian government has worked to overcome every obstacle, most notably supply shortages and severe global supply chain disruptions – the kind the world has not seen in decades, or perhaps ever before. It has adapted its policy infrastructure – in collaboration with AdvaMed and its member companies – to ensure its own people and people around the world have access to the medical technologies they need – like diagnostic testing, isolation beds, and other critical care equipment.
“AdvaMed intends to continue this collaboration, so that we can keep seeking mutually beneficial and sustainable policy solutions that will expand patient access to medical technology innovations even further. This latest action on the budget is an encouraging first step, but it can’t be the final step.
“India must build upon the current momentum to encourage more investment in its health care sector, grow its medical technology presence, and meet the current and future needs of the Indian people and its international neighbors. In time – and with the right strategy in place – India will assume its rightful position as the next great leader in the global supply chain.”
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AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org.