Centre to promote exports of micro pharma enterprises
Sai Nikesh | The Dollar Business In a move to boost pharmaceutical industry, the Government of India is working towards the promotion of exports, especially by the micro and small enterprises of the pharma sector. This was informed by the Union Commerce Minister, Nirmala Sitharaman on Wednesday. The Union Minister informed that the Central Drugs Standard Control Organization (CDSCO) was unaware of the fact that majority of small pharma manufacturers are working for bigger pharmaceutical units which export the same under their brand name. In this regard, the government has taken various measures to promote exports by small and medium pharmaceutical manufacturers, which includes financial assistance through Pharmaceuticals Export Promotion Council of India (Pharmexcil), she added. Under the Market Development Assistance and Market Access Initiative Schemes, the Pharmexcil organization will support exporters of pharmaceutical products, particularly the small and medium size exporters in promoting their exports in various countries. The Minister further informed that the government is carrying forward trade delegations, buyer-seller meets to various countries, facilitating one-to-one meetings with local buyers/importers and arranging FDA/Regulatory officials for the benefit of exporters. The government is also assisting small enterprises of the sector by providing them enough space at reasonable costs encouraging them to exhibit themselves in the international exhibitions, she added. The Minister urged the small and medium exporters to make a better utilization of business meets organized in India with buyers, importers and FDA officials from the foreign nations. While informing about IPHEX, a Pharmexcil event organised annually, the Minister said the Pharmexcil’s special cells for Intellectual Property Rights and AYUSH will also help small and medium enterprises. The Minister further said that the incentives provided under various trade promotion schemes like Focus Market Scheme, Focus Product Scheme and Advance Authorization Scheme in the Foreign Trade Policy (FTP) will benefit the exporters on a larger scale in promoting their exports. The Government of India’s ‘India Brand Pharma Campaign’ launched since March, 2012, also promotes quality, affordable & reliability of Indian medicines, the Minister added. For technology up-gradation to micro and small enterprises, Ministry of Micro, Small & Medium Enterprises (MSME) is also running a Credit Linked Capital Subsidy Scheme, under which the enterprises will be able to take loan up to Rs 1 crore with 15% subsidy. These statements by the Minister explaining the Centre’s thrust to improve pharmaceutical industry is definitely a extended support to the Indian pharmaceutical industry, amidst key challenges it has been facing on IPR, among others. In this way, a special focus on micro and small scale pharma enterprises and the small exporters will definitely boost the manufacturing and production capabilities of the Indian pharma industry.
This article was published on March 12, 2015.