In a bid to boost pharmaceutical exports, the government is considering various steps including setting up of inter-departmental committee to look into export-related issues besides developing awareness programmes that are suitable for emerging markets like Africa.
The sector has huge potential in terms of increasing exports, the Commerce Ministry is taking many measures to boost overseas shipments, a ministry official said. The ministry has prepared a 'guidance document on pharma procurement' to help authorities in Africa, Latin America and South Asia in their purchasing programmes.
Awareness programmes about Indian pharma industry have also been started in these markets and workshops are being organised with USFDA for Indian drug regulators and the industry. In recent times, the Indian pharma industry is facing heat from USFDA for non-compliance and many domestic drug makers including Sun Pharma and Wockhardt have faced the action.
India's pharma exports grew by about 3 per cent to $15.34 billion in 2014-15. According to a foreign trade policy statement, the pharmaceutical sector is beset with several challenges. Most of these arise out of the enviable reputation of India as a reliable supplier of generic medicines.
The challenges include maligning campaigns such as violation of India's IPR commitments; allegations of noncompliance of quality standards; and India's pricing policies forcing Indian exporters to price their products with extremely low margins.
To ensure traceability and tracking of the drugs manufactured in India, bar-coding for all exports except primary level packaging have been made compulsory from July 1. Pharma exports account for 10 per cent of the global market by volume and 1.4 per cent by value. The industry is expected to expand at a compound annual growth rate (CAGR) of 14.5 per cent over 2009-2020 to reach $55 billion.
Source:- thehansindia.com
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