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The two-day event is being organised by the Federation of Indian Chambers of Commerce and Industry and the State Department of Industries and Commerce, along with Indian Institute of Chemical Technology and Indian Chemical Manufacturers Association.

HYDERABAD, April 18

BY 2010, Andhra Pradesh is expected to produce $ 10 billion worth of drugs and pharmaceuticals, accounting for 40 per cent of the total production of these products in the country.

It was envisaged that the country's production of drugs and pharmaceuticals would go up from the current level of $ 5.5 billion per annum to $ 25 billion during the next eight years, according to Mr B. P. Acharya, Secretary, Industries and Commerce Department of Andhra Pradesh.

Mr Acharya told newspersons here on Thursday that the State already had two pharma companies whose turnover was over Rs 1,000 crore each. This apart, there were three companies which have a turnover ranging from Rs 200 crore to Rs 500 crore.

He said that an international conference on chemicals, petrochemicals and pharmaceutical industry would be held here from Friday to highlight the potential of the State to support and sustain these industrial sectors.

The two-day event is being organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the State Department of Industries and Commerce, along with Indian Institute of Chemical Technology (IICT) and Indian Chemical Manufacturers Association (ICMA).

The IICT Director, Dr K. V. Raghavan, said that the global chemical sector was slowly moving towards Asia and many Asian countries were already preparing themselves to utilise this opportunity. A mega chemical complex was taking shape in Andhra Pradesh. An exclusive chemical port was also coming up in the State.

He said that the State was also looking forward to Japanese investments. A Japanese delegation would be taking part in the two-day conference. The Additional Secretary-General of FICCI, Mr Krishan Kalra, said that the chemical industry accounted for 10 per cent of the global trade estimated at $ 400 billion per annum. The country's share in the world chemical production, currently, however, was only 1.5 per cent. FICCI had recently opened its office in the State.

The ICMA President, Mr R.P. Sethi, said that the flow of investments into the State was likely to increase with the industrial climate being conducive.

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