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Business EconomyPosted at: Oct 25 2016 7:24PM


Importing USD 3 bln Chemical from China have impact on India Pharma: Reddy

Hyderabad, Oct 25 (UNI) India importing about USD 3 billion worth of chemical from China every year would have an impact on Indian pharma, Pharmaceuticals Export Promotion Counicl of India (Pharmexcil) Chairman Madan Mohan Reddy said.
To reduce the dependence on Chinese imports, the government should promote clusters to manufacture Active Pharma Ingredients (API) and Chemical, Mr Reddy told reporters here today.
Out of 20 top global pharma companies, 8 are in India, he said the centre is looking to support pharma industry to promote some clusters for bringing down imports from China.
He said the 100 products that are currently imported are manufactured in India and the clusters will help to substitute the imports to some extent.
Currently, Pharma exports was 16.9 billion US dollar and it is expected to grow by 10 per cent in the fiscal, Mr Reddy said.
We are expecting at around 10 to 12 per cent growth every year in exports and it may be up in the coming years as majority of companies have filed dossiers and expecting approvals in US and other countries, the Pharmexcil Chairman said.
There are several drugs being off-patented which provide a lot of opportunities for Indian pharma companies, he added.
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