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New Delhi, July 2024 – In a significant move aimed at alleviating the financial burden on cancer patients, Union Finance Minister Nirmala Sitharaman announced the exemption of customs duty on three additional cancer drugs during her presentation of the Union Budget 2024. The drugs now exempt from customs duty are Trastuzumab deruxtecan, Osimertinib, and Durvalumab.
This decision is expected to provide substantial financial relief to patients battling cancer, a disease that continues to escalate in prevalence across India. The reduction in customs duty on these essential cancer medications is a welcome step for patients and their families, who often face high treatment costs.
In her seventh budget speech, FM Sitharaman also proposed exemptions in customs duties on critical medical equipment components. She stated, “I also propose changes in the BCD (Basic Customs Duty), X-ray tubes, and flat panel detectors for use in medical X-ray machines under the phased manufacturing programme to synchronise them with domestic capacity addition.” This move is part of a broader effort to enhance the accessibility and affordability of medical imaging technology in India.
The announcement comes in the wake of alarming statistics reported in the 4th edition of Apollo Hospitals’ Health of Nation Report, which has labeled India the “cancer capital of the world.” The report highlights the rising incidence of cancer across the country, with India registering about 12 lakh new cancer cases and 9.3 lakh deaths in 2019, making it the second-highest contributor to the cancer burden in Asia, according to a study published in The Lancet.
The number of new cancer cases continued to climb, reaching 13.9 lakh in 2020, 14.2 lakh in 2021, and 14.6 lakh in 2022. These statistics underscore the urgent need for measures that can reduce the cost of cancer treatment and improve access to life-saving medications.
The exemption of customs duty on Trastuzumab deruxtecan, Osimertinib, and Durvalumab is a pivotal step in this direction, potentially easing the financial strain on thousands of families affected by cancer each year. The government’s commitment to supporting cancer patients is further demonstrated by the proposed changes to customs duties on medical X-ray machine components, aimed at bolstering domestic manufacturing capabilities and enhancing healthcare infrastructure.
As India grapples with an increasing cancer burden, such policy measures are crucial in the fight against this devastating disease. The Union Budget 2024’s focus on healthcare reforms reflects a strong commitment to improving the well-being of the nation’s citizens, particularly those battling serious illnesses like cancer.
