Pharma industry associations have appointed PricewaterhouseCoopers (PwC) as Advisor to drive investments in the pharma sector.
The appointed agency will interact with the members of the constituted expert committee, formed under the DoP to identify bottlenecks which have impeded investments in the Indian pharma industry. The agency will also deliberate on improvements areas which will help the expert committee to prepare action plans to attract investments in the pharma sector.
Dr Dinesh Dua, Chairman, Pharmexcil, informed, “All the associations have unequivocally agreed to leverage the services of subject matter experts to articulate the vision of the pharma industry in sync with the government to attract more investments in the life science sector, particularly in pharma with very specific recommendations and timely implementation, to achieve the vision of $120 billion by 2030.”
He added, “To accelerate the move, deliberations are going on amongst associations to formulate the plan which will be discussed with the DoP and lead to concrete short, medium and long term action plans.”
The government is aiming to attract investments in areas of core competency and cutting-edge technology; to ensure efficiencies; create economies of scale; enhance exports and make India an integral part of the global supply chain. Recently, the cabinet has approved Rs 15000 crores for the Production Linked Incentive (PLI) scheme in the pharma sector. This is in addition to the government’s earlier sanction of Rs 6,940 crores for 43 bulk drugs.