Morning Alert.. *Medical device makers look to hike Russia exp | Equity99

Morning Alert..
*Medical device makers look to hike Russia exports to Rs 2,000 cr in 5 years*
India’s exports of medical devices to Russia can be tripled in the next five years through collaborative efforts by both countries, according to the Association of Indian Medical Device Industry (AiMeD). The push to shore up Indian medical device exports to Russia comes after players from both countries recently held an online meeting to explore opportunities in the areas of manufacturing and marketing life-saving medical equipment and devices. “They stressed the need for a dynamic and multifaceted economic engagement, guided by shared interests and a commitment to further deepen bilateral cooperation. The two organisations will contribute in their own humble manner in line with that objective,” AiMeD said in an official statement. The online event was attended by over 70 Indian manufacturers and exporters alongside some key Russian investors. Data compiled by AiMeD shows that India exported most medical devices to the US at $668.9 million in FY 2022-23. This was followed by Germany ($176.2 million), China ($145.6 million), and the Netherlands ($106.5 million).

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