BREAKING NEWS:
  • Friday, 22 Feb, 2019
  • 8:37:22 PM

Indian Pharma Industry Can Generate 10 Million Jobs Globally

          Alone Indian Pharma Industry has employed 5 million people in India and approximately 1 million across the world when there is no support to pharmaceutical industry in planed way. Whatever industry growth industry gained over the time is only by self help. Government of India always gives vision of five years to the pharmaceutical industry but vision document never comes to pharma stake holders. Only paper work cannot make India great.

          Vision and mission are business term and one who prepares vision document should understand the meaning of vision and mission. Vision is not time bound where as mission is time bound like mission Kashmir and it could be at least for 5-10 years. Vision never changes over the time. We prepare vision once in whole life time.Vision and mission is commitment. Big question, how vision and mission will be accomplished. Highlighting, government support to Indian Pharma exporters 50% of the fees paid to foreign FDAs for product registrations reimbursed upto Rs.2.0 Cr per annum, earlier it was 50.0 Lakh.

           There should be pharmaceutical minister in place along with pharma skilled government servants to design vision document and then they can guide as how to implement upto the scheduled M level manufacturers and small exporters. Pharma industry is growing day by day by self help of industry people and there is no contribution of government. Rather than supporting to pharmaceutical industry, government is giving lethal dose time to time.

            There are many challenges pharma industry is facing right now and need booster live saving dose to be global leader in formulations and API. This industry is giving 5 million jobs alone and it could be 10 million. Election time support by government is just like a soup and it is not more than a drop. We require support to achieve our mission and vision. This soap is not for small and medium class exporters. Forget everything, if government can give interest free loan for registration of products only then industry can grow by at least USD 6-8 billion per year. Company can return back loan amount in 3 commercial consignments.

             Stop frequent policy introduction which has no relevance and makes product costlier. For example government tried to implement bar code compulsory in export. Let the importing countries decide their norms and exporters are ready to follow. Prices fixation of B.E and Clinical study: Like NPPA there should be a government body for price fixation of Bioequivalence study and clinical trial study. Some CRO is charging 6 lakh for bioequivalence study, some are charging 12-25 lakh and some are charging upto 50 lakh . All these expenses add to product.

             Currently Indian Pharma industry is 3rd largest earner of foreign currency without support of government and it could be no.1 foreign currency earner if government is ready to support on the basis of full seed amount back. If one industry is already super power in the world then it is right to time join hands together with the pharma industry for foreign currency and job creation. We are going to touch US dollar 55 billion by 2020 and we have strong power to touch USD 100 billion if government take a strong stand towards growth of pharma industry.

 

Mohammad shahbaz alam



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