Separate ministry for pharma sector
Union Fertilisers
Minister Ananth Kumar on Wednesday said there will be a separate ministry for
pharma and medical devices sector in the next one year, and assured that the
government will soon implement the Katoch panel recommendations to cut bulk
drugs import from China.
“I want to see that
pharmaceutical and medical devices become a separate ministry and we are
already in touch with PMO and we are pursuing that it becomes a separate
ministry. I assure you in next one year you will emerge as a separate entity as
pharma and medical devices ministry,” Mr. Kumar said at an event organised by
PHD Chamber of Commerce.
“In the next 100 days,
we are going to implement the Katoch committee report for the benefit of the
pharma industry. We have already accepted it, it is in circulation.
We are having
discussions with the PMO also, and to implement some of the recommendations
even if we have to go to the Cabinet, we will go,” the Minister said.
On the inverted duty
structure hampering the pharma and medical devices industries, Mr. Kumar said
the government has been following up the issue for the last one-and-a-half
years.
“There is a huge
question of FTA and inverted duty structure, which needs to be attempted...I
request office-bearers of PHD Chamber of Commerce to come out with a memorandum
regarding these inverted duties, which will be discussed with the Finance
Ministry itself before the budget, that is an assurance,” he said.
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