India: government Supports Pharma-Growth Six new Pharma Parks for India
India's government plans to boost the country's 'pharmerging' success story with six new pharma park projects. The Union Minister of Chemicals and Fertilizers, Ananth Kumar has recently released recommendations of the task force on development of manufacturing capabilities in each medical vertical in pharmaceutical production.
New Delhi/India – Speaking on the occasion, Ananth Kumar said that the pharma industry in the country is a sunrise industry with $30 billion output and the government is supporting the industry in taking up this output to $55 billion by 2020. He further added that government is going to set up six pharma parks and two medical devices parks shortly, which will involve an investment of about `30,000 crore. The main objective for constitution of the task force was to identify the gaps in the production of drugs, vaccines, etc in various therapeutic categories and to suggest remedial action.
The task force chaired by Secretary, Pharmaceuticals has given recommendations with respect to policy support, infrastructure, skill development, duty structure, policy for pricing, regularity framework and promoting research and development for three different verticals—communicable diseases, noncommunicable diseases, and bio-pharma, prophylactics and over the counter products.