You are here: Home » News-CM » Economy » News
Business Standard

Indian Pharmaceuticals, Fertilizers And Petrochemicals Sector Offers Good Potential

Capital Market 

DV Sadananda Gowda, Minister for Chemicals & Fertilizers, Govt of India has said that India and the Latin America and Caribbean (LAC) region have cooperated on a lot of global issues on various multilateral and global platforms and there is a need to extend this cooperation at regional and bilateral levels. Addressing virtual Latin America & Caribbean session on 'Reimagining Distances', during FICCI LEADS 2020, Gowda emphasized on the potentials in the Indian pharmaceuticals, fertilizers and petrochemicals sector. He said that India is largest supplier of generic medicines in the world.

India is the only country with largest number of US-FDA compliant Pharma plants (more than 262 including APIs) outside of USA and exports $ 20 billion worth of pharma products to various countries including high standards complying countries like US and Europe. The government has also launched scheme of developing 7 Mega parks, 3 Bulk drugs and 4 Medical Devices Park across the country, he added. New manufacturers will also be eligible for PLI scheme and this is a very good time to invest in India and setup manufacturing base in Indian pharma sector, Gowda noted.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 15 2020. 12:36 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU