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Indian pharma industry seeks policy reforms in Indonesia
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SME Times News Bureau | 26 Mar, 2013
India hopes the Indonesian government will undertake policy reforms
that will enable Indian companies to invest in the South-East Asian
nation's pharmaceutical sector.
Since Indian pharmaceutical
products are affordable and of high standards, India can contribute
immensely to the growth of Indonesia's pharmaceutical industry, an
Indian embassy release here said.
Speaking during a
pharmaceutical exhibition, participated by 39 Indian small and medium
enterprises (SMEs) between March 20-22, Indian Ambassador Gurjit Singh
expressed optimism of "early policy reforms by the Indonesian
government".
Singh said this would result in "meeting the
increasing demand of pharmaceuticals at competitive prices once the
Indonesian Government initiates the social insurance cover for its
population".
Indian exports of pharmaceuticals to Indonesia reached about $75 million in 2011-12 from $44 million in 2008-09.
The
Indian pharmaceutical industry, valued presently at over $25 billion,
has gained recognition as the global pharmacy of the world on account of
being able to prove quality generic medicines at affordable price.
It
has been recognised as a reliable source for bulk drugs (APIs), drug
intermediates and formulations (generics), pharmaceutical machinery and
packaging.
This year major Indian companies in the CPhI-SEA
included Morepen Labs, SG Pharma, ACG Group, Sterile India, Thermolab
Scientific Equipments, Borosil Glass Works Brothers Pharmamach, and
Healthcaps.
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