Sharma to review pharmaceutical sector Tuesday

Amid slowdown in exports, Commerce and Industry Minister Anand Sharma will hold discussions Tuesday with pharmaceutical industry players on ways to enhance shipments and promote 'Brand India' in world market.

In the first meeting of the consultative group on exports of pharmaceutical products here, Sharma will review the sector, an official release said.

The group would also discuss providing support to research and development in the sector.

It will also deliberate on "steps taken to emphasise commitment to quality, safety and efficacy of Indian medicines, ways to promote Brand India Pharma in important markets and the manner in which India can attain a leadership position in the world in exports".

Besides Sharma, Secretaries of Commerce Department, Industrial Policy and Promotion, Health & Family Welfare, Pharmaceuticals, Secretary (Economic Relations) and Drug Controller General of India would participate in the meeting.

A large number of industry representatives are likely to attend the meeting, it said.

India is the third largest producer of pharma products by volume and the industry is growing at a rate of 15-20 percent annually.

The domestic pharmaceutical industry pegged at USD 20 billion and is expected to touch USD75 billion by the end of this decade.

India's pharma exports were USD 13 billion last year. The country produces a fifth of the generic medicines of the world.

The country's overall exports declined by 4.16 percent in May.

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