Drug Industry Wants Separate Export Council
The pharmaceutical industry has demanded a separate exports promotional council, exclusively for drugs to exploit opportunities abroad.
Sources said the drug sector will be able to meet future challenges only if the industry plans a comprehensive export strategy, in partnership with the government and Export Promotion Council.
At present, the industry is a constituent of Basic Chemicals, Pharamceuticals & Cosmetics Export Promotion Council (Chemexcil). The council provides infrastructural support to drug exports.
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The general view among industry officials is that Chemexil is ill-equipped to handle the surge in exports, which has touched Rs 3,000 crore.
Export of drugs, sources said, will turn sluggish in the absence of any specific council for it.
Industry associations, particularly Indian Drug Manufacturers' Association, had in the past highlighted the adverse impact on drug exports after the World Trade Organisation came into being.
With its formation, stringent measures were initiated by countries importing drugs from India.
Indian Drug Manufacturers' Association former president D P Moody said here recently emerging trends and opportunities in the pharamceutical industry call for a sharper focus to achieve a higher exports.
The Indian drug industry is at present facing problems in selling products abroad. Apart from US-FDA registrations, several countries now require foreign companies to produce company and product registrations before the drugs reach their shores.
Many countries also insist on good manufacturing practices (GMP) certificates in the prescribed format of World Health Organisation (WHO).
With the growing emphasis on medicinal plants and phytochemicals, sources said, special attention needs to be given to export of these sources.
Industry sources said the proposed pharmaceutical export council should focus on the $24 billion herbal medicine market. It emphasised the need to carry out reserach on indigenous systems of medicine and phytochemicals.