Pharma professionals have called upon the Government to set up a Pharmaceutical Special Economic Zone (SEZ) to provide a boost to the sector by inviting multinational companies (MNCs) to set up pharmaceutical industries in the State.
Pharmaceuticals comprising drug manufacture, research and technology development was one of the fastest growing niche sectors in the world with Odisha offering tremendous opportunities in the field.
State Government should formulate a suitable Pharmaceutical Policy to encourage investors to establish pharma industries here, the Odisha Pharmaceutical Association stressed in a memorandum submitted to Health Minister Damodar Rout during Odisha Pharmaceutical Conference, 2013 at School of Pharmaceutical Sciences (SPS) of SOA University here on Sunday.
The Association pointed out that India had the technical know-how and low cost advantages, both in research and manufacturing coupled with skilled manpower which would attract a lot of business in the future.
The Centre’s decision to allow 100 per cent foreign direct investment in the drugs and pharmaceutical industry was expected to aid the growth of contract research in the country.
Quoting a report published by Corporate Catalyst India, it said the pharma industry today was at the forefront of India’s science-based industries being the third largest in terms of volume and 14th in terms of value.
According to the Union Ministry of Chemicals and Fertilisers, the total turnover of India’s pharmaceutical industry was $21.04 billion (US) between 2008-09. Exports from the pharmaceutical industry had gone up from `386 billion in 2008 to ` 775 billion in 2012.
The Association urged the Government to strengthen pharmaceutical education and research by providing support to the pharmacy educational institutions and establishing a National Institute of Pharmaceutical Education and Research (NIPER) in Odisha with the help of the Centre.
It has also demanded amendment to the Odisha Professional Educational Institutions Act to enable the pharmaceutical colleges to progress and promote essential medicines programme and improve accessibility to essential medicines.
Among others, Director (International Marketing), Caplin Point Laboratories Pvt Ltd, Dr D P Mishra, president, OPA, Prof P N Murthy and VC, SOA University, Prof R P Mohanty were present.
The sector’s growth potential
- Pharmaceuticals was one of the fastest growing niche sectors in the world with Odisha offering tremendous opportunities in the field.
- According to a report published by Corporate Catalyst India, the pharma industry today was at the forefront of India’s science-based industries being the third largest in terms of volume and 14th in terms of value
- According to the Union Ministry of Chemicals and Fertilisers, the total turnover of India’s pharmaceutical industry was $21.04 billion (US) between 2008-09.
- Exports from the pharmaceutical industry had gone up from Rs 386 billion in 2008 to Rs 775 billion in 2012.
Source : newindianexpress.com