The recent Australian-India Economic Cooperation and Trade Agreement (AIECTA) is expected to increase the accessibility and affordability of Cochlear Ltd’s cochlear implants in India owing to gradual removal of tariffs on its hearing implants and accessories, says GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Hearing Implants Market Size (Value, Volume, ASP) by Segments, Share, Trend and SWOT Analysis, Regulatory and Reimbursement Landscape, Procedures, and Forecast, 2015-2030’, reveals that Cochlear Ltd accounted for approximately 50% of India’s cochlear implant market in 2021.
Chetna Kaushik, Medical Devices Analyst at GlobalData, comments: “Despite increasing health spending, the high cost and limited awareness of cochlear implants always acted as restraints to their usage in India. The new trade deal is set to offer a solution to these limitations by reducing import tariffs on Cochlear Ltd’simplants by 7.5% to 15% followed by a gradual complete elimination of tariffs, improving skill set of medical staff and by increasing awareness amongst people.”
With about 63 million people suffering from hearing impairment in India, the government aims to increase awareness, ensure timely diagnosis and treatment of hearing loss, and provide reimbursement for hearing implants by initiating programs such as National Programme for the Prevention and Control of Deafness.
Kaushik concludes: “The Austrade deal combined with the government efforts to improve patient outcomes will further help India in achieving its goal. On the other hand, with India already being one of the largest importers of Cochlear Ltd’simplants, the new trade deal is expected to further boost the sales of the company.”
Follow The Indian Sun on Twitter | Instagram | Facebook
Support Independent Community Journalism
Dear Reader,The Indian Sun exists for one reason: to tell stories that might otherwise go unheard.
We report on local councils, state politics, small businesses and cultural festivals. We focus on the Indian diaspora and the wider multicultural community with care, balance and accountability. We publish in print and online, send regular newsletters and produce video content. We also run media training programs to help community organisations share their own stories.
We operate independently.
Community journalism does not have the backing of large media corporations. Advertising revenue fluctuates. Platform algorithms change. Costs continue to rise. Yet the need for credible, grounded reporting in a multicultural Australia has never been greater.
When you support The Indian Sun, you support:
• Independent reporting on issues affecting migrant communities
• Coverage of local and state decisions that shape daily life
• A platform for small businesses and community groups
• Media training that builds skills within the community
• Journalism accountable to readers
We cannot cover everything, but we work to cover what matters.
If you value thoughtful reporting that reflects Australia’s diversity, we invite you to contribute. Every donation helps us maintain the quality and consistency of our work.
Please consider making a contribution today.
Thank you for your support.
The Indian Sun Team
