The Hindu Business Line : Ministry mulls study to set up Chemical Industrial Estate

THE Union Ministry of Chemicals and Fertilisers is contemplating a study to establish the viability of setting up mega Chemical Industrial Estates across the country.

Mr Sharad Gupta, Joint Secretary, Department of Chemicals & Petrochemicals, Union Ministry of Chemicals & Fertilisers, announced this at the four-day ChemExpo 2003 and PharmaExpo 2003 Exhibition organised by the Confederation of Indian Industry here on Friday.

According to Mr Gupta the study was being mulled given, "the chemical industry is a key driver of growth contributing 9 per cent of trade and 14 per cent of Indian exports. There is considerable scope for custom synthesis, involving the manufacture of intermediates and active pharmaceutical ingredients tailor-made to customer requirements," he said.

With several drugs going off patent over the next five years and the pressure on healthcare costs, many countries are seeking affordable and good quality generics. According to estimates, the global market for generics is approximately $80 billion by 2007. This scenario offers good scope for Indian manufacturers, in particular from the US and Europe.

Mr Gupta observed that India with its large base of scientific and technical manpower and low research and development costs could emerge as a preferred destination for clinical and genomic research. Given the large population and pool of patients with wide ranging versions of different medical problems, "it would result in faster enrolment rates," he said.

Leading pharmaceutical firms such as Pfizer, Novartis and Johnson & Johnson have already started to use India as a support base to conduct clinical trial research and other technical services, according to the Joint Secretary. "This presents a tremendous opportunity for pharmaceutical companies in India to undertake contract research for overseas corporations," Mr Gupta added.

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