India’s domestic medical device manufacturers have raised concerns over a surge in indirect imports of Chinese-origin products routed through countries like Hong Kong, Malaysia, and Singapore. These rising imports, coupled with falling export growth, have prompted the Association of Indian Medical Device Industry (AiMeD) to seek urgent intervention from Commerce Minister Piyush Goyal. 

Indirect Import Routes Bypassing Restrictions 

In a letter to the minister, AiMeD noted that imports from Hong Kong (28%), Malaysia (24%), and Singapore (13%) increased sharply between April 2024 and January 2025. These countries are believed to be transshipment hubs for Chinese-made medical devices, helping manufacturers circumvent regulatory restrictions imposed by the Central Drugs Standard Control Organisation (CDSCO) and the Department for Promotion of Industry and Internal Trade (DPIIT). 

Pressure on Prices and Exports 

AiMeD Forum Coordinator Rajiv Nath highlighted that China’s excess production capacity is not only affecting Indian manufacturers but also global prices, particularly in regions like Africa and the Middle East. Due to trade restrictions by the US, Chinese devices are being dumped at lower prices in global markets, creating pressure for Indian exporters. 

Export growth in the April 2024–January 2025 period stood at only 6%, compared to 12% in FY24. Meanwhile, imports in 11 major product categories—including syringes, oxygen therapy devices, orthopedic tools, and dental cement—have surged over 15%. 

Call for Tariff Reforms 

To safeguard the domestic industry, AiMeD has urged the removal of zero and 5% concessional import duties on medical devices. Instead, it recommends imposing a minimum import duty of 7.5% across all medical equipment to discourage over-reliance on foreign goods.

Conclusion 

With India currently importing over 70% of its medical devices, the industry fears the “Make in India” initiative may be derailed without stronger protection. The government’s recent ban on refurbished medical device imports is a step forward, but industry leaders stress the need for broader tariff and policy measures to secure India’s healthcare manufacturing base.

 Read more on: Hospital Stocks Like Narayana, HCG, Yatharth Share Price Surge as Demand Rises for Advanced Healthcare

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Starting May 1, India will introduce a new GPS-based toll collection method. This is a major change to how tolls are collected on national highways. The National Highways Authority of India (NHAI) is replacing the current FASTag system to make highway travel faster, easier, and more transparent.

Read more on: MoRTH Denies FASTag Replacement Rumours; Trials ANPR-Based Tolling System

Why Replace FASTag?

While FASTag has reduced waiting time at toll plazas, it hasn’t been perfect. Problems like long queues, technical errors, and misuse of tags remain. To fix these issues and match global standards, the government is now switching to a satellite-backed tolling system.

How Will the GPS-Based Toll Collection System Work?

The new tolling system will use GPS and ANPR (Automatic Number Plate Recognition) cameras to track how far a vehicle travels on national highways. Based on the distance, toll charges will be calculated and deducted automatically.

• No need to stop or slow down at toll booths

• Toll charges based on kilometers traveled

• Money will be directly deducted from the linked bank account

• Real-time tracking of travel and payments through an app or portal

What Should FASTag Users Do?

For now, FASTag users can continue as usual until April 30, 2025. After that, you must:

• Install a government-approved GPS device in your vehicle

• Link it to your bank account

• Once your vehicle is onboarded, remove the FASTag sticker

The transition will be gradual, and the government plans to support users through awareness campaigns and help centers.

Benefits of the GPS-Based Toll Collection System

The new satellite-based toll collection system will offer you several benefits, such as:

• No more long toll queues

• Paying only for the distance you actually travel

• Lowering fuel use and reducing emissions

• Ensuring better road safety with fewer halts

• Transparent toll billing

Conclusion

India’s shift to GPS-based tolling marks a big step towards smarter road infrastructure. Though it may take some time to adjust, the system promises faster, more efficient highway travel for everyone — from car owners to truck drivers. With government support, the transition is expected to be smooth and beneficial in the long run.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.

India’s bank credit is expected to grow by 12–13% in FY26, slightly higher than the 11–11.5% growth seen in FY25. According to Crisil Ratings, this will be driven by new regulatory changes and expected tax cuts that could boost spending. Lower interest rates will also play a role.

3 Factors Supporting the Growth of Bank Credit

CRISIL said that 3 main factors would help drive this credit growth:

• Higher consumer spending due to likely tax cuts
• Regulatory relief from the Reserve Bank of India (RBI)
• Lower interest rates, making loans cheaper

Moreover, 2 major regulatory decisions will free up more money for banks to lend. First, the Reserve Bank of India (RBI) has rolled back the earlier increase in risk weights on loans to non-banking financial companies (NBFCs), making it easier and less capital-intensive for banks to lend to them.

Second, the implementation of stricter liquidity coverage ratio (LCR) norms has been delayed by a year, which means banks can now use funds that would otherwise have been set aside as a safety buffer, thereby increasing their lending capacity.

Better Bank Credit Flow to NBFCs

The RBI had earlier raised the risk weight on loans to NBFCs, making it harder for banks to lend to them. But from April 1, 2025, this decision was reversed. This will make lending to NBFCs easier.

In the past, loans to NBFCs grew at 21% annually (FY23–FY24). However, in FY25, this growth dropped to 6% by February. Now, lending to NBFCs is expected to grow in double digits, though not back to the previous high levels.

Corporate Bank Credit to Pick Up

Loans to the corporate sector, which makes up about 41% of total bank loans, are expected to grow at 9–10% in FY26, compared to 8% in FY25. Lending to NBFCs is a key part of corporate lending (about 18%) and was a big growth driver before FY25.

Deposit Growth Still a Concern

While bank credit is set to grow faster, deposit growth needs attention. In FY25, deposits grew at 10.3%, which may not be enough to fully support rising credit demand.

Conclusion

Crisil Ratings believes India’s credit growth will improve in FY26 due to helpful regulations and better spending by consumers. But deposit growth needs to keep pace for long-term stability.

Read more on: Samvardhana Motherson Shares in Focus; Partnership with Singapore’s BIEL Takes Shape

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.