Union Minister for Chemical and Fertilizers, Mansukh Mandaviya on Thursday called the government pro-poor, pro-farmer, and industry-friendly in an event held at Indian Drug Manufactures’ Association. He stated that the government is planning to amend the Drug and Cosmetic Act, of 1940 and reduce the compliance burden. 

He shared that they are consulting with all the stakeholders before framing any policy and implementing union Budget provisions. He added that the industry plays a crucial part in nation-building and in achieving self-reliance and prompted the sector to plan for the coming 25 years. Today, the Indian Pharma Sector is known globally due to the continuous efforts of both the government and the industry itself. 

He also stated that the government has tried to reduce imports and support domestic manufacturing by funding Production Linked Incentive Schemes worth Rs 15,000 crore. Under PLI, 35 Active Pharma Ingredients are already under production that used to be imported earlier. He clarified the governmental stance by stating that the center doesn’t see the pharma sector as a money-making machine but wants to support the industry with a mindset of “Vasudhaiva Kutumba”. 

Source: ET Healthworld