Overall the budget had very little measures specific to support the growth of pharma industry – Nitin Goel
Nitin Goel, Managing Director, IMS Health South Asia while commenting on Budget 2015 says, “The proposal to set up three National Institute of Pharmaceuticals education and research is a welcome move from a long-term perspective. However, overall the budget had very little measures specific to support the growth of pharmaceutical industry. Considering the low investment in R&D in the sector, specific measures to incentivise companies on R&D was expected and the budget did not provide any guidance in this direction.”
Similarly, there have been no initiatives announced to boost the bulk drugs industry which is facing stiff competition from China.