|V.K. Subburaj, India's Pharmaceuticals Department Secretary|
India's government plans to release the country's new policy on bulk drugs in a month, Minister of State Ministry of Chemicals and Fertilizers Hansraj Ahir said during Mumbai's weeklong Make in India event.
According to the Economic Times, Ahir expects the policy to decrease the import of drugs into India. "The policy is aimed at bringing down imports of bulk drugs and increasing the domestic output," Ahir said.
Currently, bulk drugs only contribute 10% to 12% toward the country's local pharma sector. India depends on China for the majority of its active pharmaceutical ingredient (API) imports, which so far is reaches around 70% to 80% of the country's requirements, the Economic Times reports.
India's government estimates industry growth to be $200 billion by 2030 from a present $32 billion. Also at the event, Dr. V. K. Subburaj, Secretary, Department of Pharmaceuticals, said the Indian pharmaceutical industry is growing at a rate of 8% to 9% annually. To achieve the 2030 goal, local manufacturing needs to increase.
Subburaj also mentions quality control as a big challenge to ensure the increase of local bulk drug manufacturing and decrease of importing drugs from China. India is currently struggling to have enough quality control regulators to keep up with the locally produced drugs.
Back in December 2015, Subburaj was reported saying that within 100 days, India will be less reliant on China for bulk drugs.
- here's the story from the Economic Times
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