Usha Sharma – Madrid, Spain
Anand Sharma, Minister for Commerce, Industry and Textile Government of India has recently conducted a sectoral meeting with all Indian pharma industry stakeholders to discuss the formation of an innovative pharma cluster scheme focussed on shared R&D facilities. The Government has tentatively allocated funds of around Rs 200 crore for this scheme and could launch it by end 2012.
Speaking exclusively to Express Pharma on the sidelines of CPhI Worldwide Madrid, S R Rao, Commerce Secretary, Ministry of Commerce and Industry Department of Commerce, Government of India, said, “Today, India’s generic drug exports to the US and EU accounts for 20-24 per cent. To encourage mid- and small-sized pharma companies we have announced a scheme for innovative pharma cluster for R&D. It will help these companies to get better business not only in the domestic market but also in the non-regulated market. Since the discussion is in its early stage, we have planned to set aside Rs 200 crores initially, which may get changed. This scheme is likely to be launched by end 2012.”
Giving more details of the scheme JS Deepak, Additional Secretary, Department of Commerce and Industry mentioned, “We have plans to bring this new scheme under the five year plan. This scheme will provide a common facility for companies on a fee-based approach. This scheme will help R&D professionals eager to return from multinational pharma companies and desire to start their own companies. These professionals can easily relocate to India and become a part of the cluster.”
This scheme will also support entrepreneurs who want to set up innovation clusters in their region. Highlighting the benefits of the above mentioned scheme, Deepak said, “With the help of this scheme, scientists can carry out their research as a part of this cluster on a fee-based approach and later on they can file patents on their own innovation. This will help the Indian pharma industry to grow much faster.”
He continued that the Government also wants to set up funds for mid sized and small sized pharma companies. Rajeev Kher, Additional Secretary, Department of Commerce commented on the Free Trade Agreement between India and EU saying, “We are in the process of finalising it and hopefully we will be able to sign the free trade agreement by end of this year.”