Indian pharma units second largest to get US FDA approvals
Commerce and Industry Minister Piyush Goyal has called on the Indian pharma sector to adopt good manufacturing practices and increase pharma exports to US$200 billion.
“India must strive to become a member of Pharmaceutical Inspection Co-operation Scheme (PICS) so that we may succeed in taking our pharma export to US$200 billion by earning the trust of the world through certification,” he said at the ‘21st Civil Services Day 2022, Plenary Session on Aatmanirbhar Bharat – Focus on Exports’ in New Delhi on 20 April 2022.
Observing that India had the 2nd largest US FDA approved Pharma manufacturing units, Goyal asked all pharma units, big and small, to adopt good manufacturing practices (GMPs) and global quality standards in all processes.
The minister stressed upon the need to make exports the fulcrum of India’s growth as the country has the potential achieve US$1 trillion services and merchandise exports each by 2030.
India’s 2021-22 export totalled US$419 billion, with monthly shipments of US$30 billion and March recording US$42 billion of Indian origin supplies to the global markets.
The growth momentum has been maintained in the first 14 days of April touching US$18.5 billion.
India’s share in global goods trade was under 3% in 2021, he pointed out.
The Minister underlined the immense scope for growth, and called on the Centre and States to work in tandem, and told district collectors to promote exports in their jurisdictions. fiinews.com
