Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Govt’s booster dose for Indian pharma industry to become self-reliant; 3 mega bulk drug parks likely.


Date: 23-07-2020
Subject: Govt’s booster dose for Indian pharma industry to become self-reliant; 3 mega bulk drug parks likely
Taking cues from Prime Minister Narendra Modi’s Atmanirbhar Bharat campaign, the Ministry of Chemicals and Fertilizers announced a production linked incentive (PLI) scheme for the promotion and manufacturing of pharmaceutical raw materials in India. The government’s move is aimed to boost domestic manufacturing and cut dependence on imports of critical Active Pharmaceutical Ingredients (APIs). Further, the government has also decided to develop three mega bulk drug parks in partnership with states. These schemes will likely appeal more to the smaller players and should foster more investments especially on the Rs 200-500 million investment thresholds, said an Emkay research report. 

The report suggested that the new developments will not pose any threat to the players who are already in the market, instead, the newer entrants are expected to largely take the market share from China rather than the Indian counterparts. While India supplied doses of Hydroxychloroquine to the world and secured the trust of many countries, the latest move is likely to give more advantage to India amid disruptions from the Chinese side. India also aims to achieve self-reliance in ensuring the uninterrupted supply of drugs and affordable healthcare to its citizens. 

So far, India depends heavily on imports to fulfill its domestic drug requirements. Around 70 per cent of the drug requirements are met by imports. To cut this large-scale import, the government has decided to support the manufacturers for six years in the case of fermentation-based products and five years for chemically synthesised products. However, the scheme is only applicable to greenfield projects and will be for the registered eligible manufacturers in India. The total tenure of the scheme will be from FY21 to FY30 with an outlay of Rs 6,940 crore. 

Meanwhile, China’s dominance in bulk drugs is due to the regulatory support it gets from its government, which includes common facilities across plants and various subsidies, helping them to cut the cost considerably. Now, with similar support to Indian manufacturers, India too got a chance to become a leader in manufacturing pharmaceuticals, fulfilling its own requirements and exporting it to the world.

Source:- financialexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 16-09-2022
Notification No. 29/2022-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to decrease the Special Additional Excise Duty on production of Petroleum Crude and export of Aviation Turbine Fuel.

Date: 16-09-2022
Notification No. 30/2022-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022 , to decrease the Special Additional Excise Duty on Diesel.

Date: 15-09-2022
NOTIFICATION No. 79/2022-Customs (N.T.)
Electronic Duty Credit Ledger (Amendment) Regulations, 2022

Date: 15-09-2022
Notification No. 77/2022-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 15-09-2022
Notification No. 78/2022 - Customs (N.T.)
Exchange rate Notification No. 78/2022-Cus (NT) dated 15.09.2022-reg.

Date: 14-09-2022
NOTIFICATION No. 76/2022-Customs (N.T.)
Seeks to amend RoSCTL notificatio

Date: 14-09-2022
NOTIFICATION NO. 75/2022-Customs (N.T.)
Seeks to amend RoDTEP notification.

Date: 08-09-2022
Notification No. 49/2022-Customs
Seeks to amend Second Schedule to the Customs Tariff Act to prescribe export duty on specified Rice products.

Date: 07-09-2022
Notification No. 47/2022-Customs
Seeks to amend notification No. 56/2000-Customs, dated the 5th May, 2000 to apply IGCR Rules with effect from 01.10.2022

Date: 07-09-2022
Notification No. 48/2022-Customs
Seeks to amend notification No. 57/2000-Customs, dated the 8th May, 2000 to apply IGCR Rules with effect from 01.10.2022



Exim Guru Copyright © 1999-2022 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001