May 3, 2020
China today covers 55 percent of API space in the world. With China facing quality issues, India can take a lead and making plan big for exports. It takes a long time and huge investment to revive API production in India. There is complicated compliance polices to Pharmaceutical industries in India and govt. should take initiation to give compliance relaxation to the pharmaceutical companies. Although the government of India has rolled out certain key measures such as sanctioning Rs 10,000 crore incentive scheme to set up bulk drug parks, R&D, industry experts are of the opinion that revival of old APIs are the only way forward in the short term. “Govt. of India announced that an incremental incentive may be provided for all 53 KSMs (key starting material, which are building blocks for APIs) and APIs for which we are vulnerably dependent on imports.
India is looking at taking significant steps in order to boost domestic API production and is taking huge strides to not only reduce its dependence on China but also to be a hub in bulk drugs. In a bid to boost the export of bulk drugs, the government of India is planning to bring some of the defunct active pharmaceutical ingredient (API) units into life. According to a report from The Economic Times, the government is planning to provide fiscal incentives and capital subsidy to the API units. The move is aimed at capturing a substantial chunk of API space from China which is currently reeling under lack of trust post the outbreak of the ongoing Coronavirus pandemic.
Krishna Pandey, Chairman, Nepal Medical Tourism Organization
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