Government has decided to disinvest in certain pharma PSUs: Piyush Goyal

NEW DELHI: Commerce and industry minister Piyush Goyal on Sunday said the government has decided to disinvest in certain pharmaceutical public sector undertakings (PSU) and invited the Indian companies to use PSUs for plug and play model of manufacturing.

During his interaction with the captains of the pharmaceutical industry, and office-bearers of the pharma associations through the video conference, he also said that the country should become Aatmanirbhar in Active Pharmaceutical Ingredients (API).

“The government has decided to disinvest in certain pharma PSUs, the minister invited the Indian companies to use PSUs for plug and play model of manufacturing,” Goyal was quoted saying in an official release.

The government had in 2016 decided to close Indian Drugs and Pharmaceutical Limited and Rajasthan Drugs and Pharmaceuticals Limited. It had also announced strategic sale of Hindustan Antibiotics Limited and Bengal Chemicals and Pharmaceutical Limited.

India's Pharma exports rose 8.2% on year to $20.7 billion in 2019-20 from $19.14 billion in 2018-19.

On the API front, Goyal said the government has already approved the scheme on Promotion of Bulk Drug Parks for financing Common Infrastructure Facilities in three Bulk Drug Parks. Production Linked Incentive Scheme for promotion of domestic manufacturing of critical KSMs/Drug Intermediates and APIs in the country has been given a go ahead.

Goyal asked industry to look at the large untapped market in Eastern Europe and Russia, and said that anti-dumping investigation process has been expedited. He also asked industry to bring to his notice if it faces any roadblock or unfair competition in a country, with which India has a free trade agreement (FTA).

During the ongoing Covid-19 pandemic, India, he said, has been recognized as the ‘Pharmacy of the World’, as over 120 countries got some essential medicines in the last two months, including 40 of them getting them in the form of grant, free of cost.

May 31, 2020

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