The government has decided to disinvest in certain public sector undertakings (PSU) in the pharmaceutical sector, commerce and industry minister Piyush Goyal said on Sunday, and invited Indian companies to use PSUs for a plug and play manufacturing model.
India should become Aatmanirbhar (self-reliant) in Active Pharmaceutical Ingredients (API), the basic ingredients for drugs.
“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 press release.
The government announced strategic sale of Hindustan Antibiotics Ltd and Bengal Chemicals and Pharmaceutical Ltd.
On the API front, Goyal said the government has already approved a scheme for 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 approval.
Goyal asked industry to look at the large untapped market in Eastern Europe and Russia.
SOURCE:ECONOMICTIMES.INDIATIMES.COM