Anand Sharma to Review Pharma Exports Tomorrow

Introduction

To Mull Promotion of Brand India Pharma with the Industry

The Union Minister of Commerce, Industry and Textiles Shri Anand Sharma will review Indian pharma exports and global market development in the first meeting of the Consultative Group on Exports of Pharmaceutical Products here tomorrow.

Apart from reviewing the status of Indian Pharma exports and the developments in the global market of this industry, the meeting will also feature discussions on supporting innovation and Research & Development (R&D) in the Pharma sector; steps taken to emphasize commitment to quality, safety and efficacy of Indian medicines; ways to promote Brand India Pharma in important markets; and the manner in which India can attain a leadership position in the world in Pharma exports.

The meeting will be attended by the members of the Consultative Group which include both industry and government representatives. From government side, Secretaries of the Department of Commerce, Department of Industrial Policy & Promotion, Ministry of Health & Family Welfare, Department of Pharmaceuticals; Secretary (Economic Relations), Ministry of External Affairs; Drug Controller General of India; Executive Director of PHARMEXCIL; and, Joint Secretary (Pharma), Department of Commerce are the members of the committee. A large number of industry representatives are likely to attend the meeting.

India is the third largest producer of pharma products by volume and its pharma industry is growing at 15-20% annually. The domestic pharmaceutical industry pegged at US$ 20 billion, is expected to touch US$ 75 billion by the end of this decade.

India is also among the world's leading exporters of pharmaceuticals and its pharma exports was US$ 13 billion last year growing annually at a rate of nearly 25%. India produces a fifth of the generic medicines of the world.

Source

Press Information Bureau, 02 July, 2012