Economy

Working with govt on substitutes for Chinese imports: Pharmexcil chief

G Naga Sridhar Hyderabad | Updated on January 16, 2018

Pharmaceuticals Export Promotion Council (Pharmexcil) is working with the Government and industry to put in place substitute mechanism for Chinese imports.

"We are requesting the Government to take steps to facilitate manufacturing of top 100 products being imported from China in India itself,’’ M Madan Mohan Reddy, Chairman Pharmexcil and Director, Aurobindo Pharma Ltd told newspersons here on Tuesday.

He was speaking on a curtain-raiser press conference on the pharma event CPhI & P-MEC to be held in Mumbai during November 17-23, 2016.

Asked on the quantum of imports from China, Reddy said chemicals and intermediates worth $3.2 billion were being imported from China. "A cluster-based approach to manufacture these products will be useful,’’ he added.

Pharma exports were likely to grow between 10-12 per cent this year, Reddy said adding that `huge opportunity’ will be created for Indian drug-makers with many patents set to expire in the coming years.

Published on October 25, 2016

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