Centre proposes to bring in new medicine policy

Updated: Dec 15, 2010, 00:00 AM IST

Chennai: The Centre has proposed to bring in a new medicine policy enabling the public to avail easy access of medicines at cheap rates, Union Chemicals and Fertiliser Minister M K Alagiri said here today.

Stating that the Government has taken a vital step in developing the medical industry by providing easy market access, Alagiri said the Centre had planned to increase contribution from the health industry from the present one per cent to three per cent to the country`s total GDP.

"This is very difficult to achieve. But after holding series of discussions, the government has now developed a new Medicine Policy. This is likely to be placed for approval from the Cabinet," he said after inaugurating a conference organised by industry body CII.

He said it was not the only duty of the Government to develop the medical department but the most important thing was to make medicines available to the public at cheap rates. "This is the most important duty for the society (by any government)", he said.

The Minister said despite the medical department facing challenge on fixing prices of medicines there will be good growth in the coming days.

Size of the Indian medical industry is about USD 20 billion and 40 per cent of it constitutes exports, he said.

PTI