Commerce ministry’s arm Pharmaceuticals Export Promotion Council of India (Pharmexcil) is working on a three-way collaboration between the Government of India, Andhra Padesh government and the industry to set up the proposed global pharma trade centre in Hyderabad, according to PV Appaji, director general of Pharmexcil.
Following the in-principle clearance by the commerce ministry, the state government has come forward to provide the required land for the facility by creating a special purpose vehicle (SPV) with the pharma body, Appaji told Business Standard.
The finances to build the centre will be tapped from the central funds under the Aside (Assistance to States for Infrastructure Development and Exports) scheme besides inviting 20-30 per cent contribution from the industry.
“We have close to 4,000 pharmaceutical exporters and 10,000 pharmaceutical manufacturing units in the country. The global pharma trade centre, once it becomes a reality, would create an institutional and infrastructure framework for our industry to further tap the export markets globally,” he said.
The centre would support both exporters and manufacturing units.
The ministry had set an ambitious target of achieving $25 billion in pharmaceutical exports by 2014-15 from around $14 billion at present. Thought the target is difficult to realise within the said time lines, the proposed centre is reflective of the ministry’s eagerness to support the industry in achieving higher export targets, according to the officials.
The centre will have dedicated blocks for individual export regions in addition to separate wings for formulations, bulk drugs, biopharmaceuticals, medical devices among other products. The facility will also provide global information on export markets, regulatory issues, manufacturing practices and training facilities and conference halls for buyer-seller meets, Appaji said.
Last week, state industry minister J Geeta Reddy said the ground breaking for the trade centre was likely to be held in March.
