SME Times News Bureau | 09 May, 2018
Ministry
of Commerce and Industry
Suresh Prabhu on Tuesday urged the Indian pharmaceutical companies to
look for new markets, adding that the government is committed
to get access
to the
sector
in key
global
markets.
After
inaugurating the 6th
annual International Exhibition of Pharma and Healthcare (iPHEX)
in New Delhi, Suresh Prabhu emphasised
the need for reaching out to newer markets, especially in Africa,
where affordability is the key issue, which can be very well
addressed by the Indian exporters.
He
also assured the global pharmaceutical players and regulators, of
best quality and affordability of the Indian drugs.
Prabhu
stressed on the need of both competitive and complementary
strategies, so that each segment of Pharmaceutical sector can
benefit. He further said that there is need to make both traditional
and preventive medicine, to work together. He also said that
Genomics is the new branch in medicine, which can play a major role
for the Indian Pharmaceutical sector.
Speaking
on the occasion, Commerce Secretary Rita Teaotia said that effort is
on to ensure uniform quality in the pharmaceutical sector. The
Ministry is committed to ensure that consistent quality and efficacy
is maintained by Indian pharmaceutical products.
Enumerating
the measures to improve Ease of Doing Business, the Drugs Controller
General of India, Dr Eswara Reddy, announced increasing the validity
of the GMP (Good Manufacturing Practices) Certificate, from two to
three years.
He
further stated that protocol for clinical trials approval has also
been changed, setting the time line of 45 days. Once approval does
not come within this timeline, the protocol would have deemed to be
approved.
Chairman
of the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL)
Madan Mohan Reddy expressed confidence that the global business will
be retained in India because of competitive cost of production.
PHARMEXCIL
Vice Chairman Mr Dinesh Dua said besides generics, India will soon
emerge as a force to reckon with in the area of innovative drugs.
