Pharma exports, which is currently pegged at $16.9 billion, is expected to grow at 10 per cent during the current year
Pharmexcil, pharma exports promoting body under the Commerce Ministry, said it has requested the Centre to allot clusters to manufacture active pharma ingredients (API) and intermediates chemicals that are currently imported from China.
India is currently importing about $3 billion worth of APIs and intermediates chemicals from China, and the idea is to cut down the dependence on Chinese imports, according to Madan Mohan Reddy, Chairman of Pharmaceuticals Export Promotion Council of India (Pharmexcil).
Most of the companies depend on Chinese imports. Pharmexcil and Bulk Drug Manufacturers Association of India are in discussion with the Centre on “why cant we see the top 100 products that are currently imported are manufactured in India,” Reddy told reporters in Hyderabad.
“The Centre is also thinking to support industry to put some clusters. Technology wise, it is not difficult to manufacture also. These clusters will help us to substitute the imports to some extent,” said the Chairman.
Reddy said pharma exports, which is currently pegged at $16.9 billion, is expected to grow at 10 per cent during the current year.
“We are expecting every year around 10 to 12 per cent growth in exports. Probably, it may be more in the coming years as majority of companies have filed dossiers and expecting approvals (in the US and other countries). There are several drugs being off-patented which provide a lot of opportunities for Indian pharma companies,” he added.
Speaking about the setbacks, he said lack of skilled manpower is one problem the industry is facing at present.