Task force report on global competitiveness of pharmaceutical sector released

Union minister of chemicals and fertilisers Ananth Kumar today released the task force report on enabling the private sector to lead the growth of the  pharmaceutical sector.

The task force on enabling the private sector to lead the growth of pharmaceuticals was set up by the department of pharmaceuticals.

Speaking at the release ceremony in New Delhi, Kumar said that the government wants to encourage a robust pharmaceutical industry in the country that is upgraded, standardised, innovative, globally competitive and can produce formulations at affordable costs.

He said in this regard, setting up of the task force was one of the major initiative of the government. The task force has given its recommendations towards concerns and constraints facing the sector and suggested measures that would augment domestic production.

Ananth Kumar said that the government is very keen on early implementation of the recommendations of the task force and it would come out with an action taken report on these recommendations in 100 days.

Speaking on the occasion, minister of state for chemicals and fertilisers Hansraj Ahir said that the government is promoting 'Make in India' as well as 'Skill India' as propounded by prime minister.

He said these two initiatives would enable the pharmaceutical sector compete globally and for this, better standards and improved facilities are required.

Ahir added that the government is willing and keen to facilitate the growth of the pharmaceutical sector in the country.

The secretary, department of pharmaceuticals, Dr. V.K. Subburaj said that the exports of pharmaceuticals by Indian companies has emerged a success story. However, weak regulations in the sector has been impacting further growth.

He said that the department has taken several steps to bring awareness in the industry for improving the standards. Dr Subburaj further said that the pharmaceutical sector is also suffering due to multiple decision making authorities. The task force has recommended a joint committee, which can take care of their problems.

The task force recommended measures to enhance regulatory support; strengthening of infrastructural; and recommended fiscal and financial support to the sector. In addition, the task force has also recommended measures for promoting skill development aligned to the need of the industry, strengthening the R&D capability of the sector, pricing strategy for the sector.