Govt to roll out industry friendly bulk drug policy in two weeks

The Government will be rolling out a new industry friendly pharma policy for bulk drugs in 10-15 days, which could help the sector in growing manifold over the next 5-7 year. Given the Prime Minister Modi’s fanaticism to shape up the sector so as to meet its sufficient for future growth both in terms of production and exports, the policy will be released by himself in next two week’s time at the most. Further, the committee and task force set up by the government for this purpose have finalized their recommendations which have been sent to Prime Minister’s Office (PMO) for final approval. The new policy is expected to eliminate all the existing irritants and prevailing ills that have overtaken the pharma sector in the last few years. It would have multiple concessions for all stakeholders of the pharmaceuticals sector so that it is put on the growth trajectory, matching its potential as the government realizes that it has done little for the sector and that whatever growth it has clocked, the credit entirely went to the private sector. With this policy, the pharma sector which is of Rs 1.8 lakh crore in size at present is likely to grow by 4-5 times in next 5-7 years with both its domestic production and exports rising phenomenally.