Govt forms consultative group to boost pharma exports
New Delhi: With an aim to increase India's pharma exports, the Department of Commerce has formed a consultative group comprising government officials and industry representatives.
According to official sources, the group has been formed with an aim to institutionalise a standard mechanism for consultation between government and industry to improve India's share in international pharma exports.
"The mandate for the group includes developing India's brand image as a source of affordable, safe and quality medicines and garner large share of global pharmaceutical market for the country," the source said.
The group, in which secretaries from key ministries will represent the government, will also look into various issues including ways to improve investments in the pharmaceutical sector for exports.
"Another focus area is on how to strengthen innovations, particularly in all aspects of generic pharma in India," the source added.
It would also devise ways to develop new approach for production, exports and sharing services.
The Indian pharmaceutical industry, consisting over 10,000 firms, is estimated as a Rs 1 lakh crore industry, of which about Rs 60,000 crore is from the domestic market.