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Business EconomyPosted at: Jan 13 2016 5:23PM


India to be no 1 exporter in Pharma products by 2020: Ananth

New Delhi, Jan 13 (UNI) Union Chemicals and Fertilisers Minister Ananth Kumar today said that the India would become the number one exporter of pharmaceuticals products in the world by 2020.
“We are going to come out with pharma parks, the bulk drugs parks, the medical devices parks...establish 12 NIPER (National Institute of Pharma Education and Research) and set right the inverted tax structure and will also give the incentives. Because of these policy interventions, we expect a huge growth in pharma industry from 30 billion dollars to 55 billion dollars", said Ananth Kumar, Chemicals and Fertilisers Minister after releasing the recommendations of the task force on Development of Manufacturing Capabilities in each Medical Vertical in Pharmaceutical Production.
The minister lauded Prime Minister Narendra Modi’s efforts in giving due attentions to the pharmaceuticals sector.
“During previous regime, pharma was not given any attentions but under Modi regime it is being given. This government will establish six pharma parks and two medical devices parks. Karnataka, Tamil Nadu and Telangana have come forward to provide all assistance in establishing these parks in their states,” he added.
He also said that the sector is a ‘Sun Rising’ industry with the size of around Rs 2 lakh crore and the pharma department has decided to take it to around Rs 3.5-4 lakh crore by 2020.
The minister further added that the pharma industry would grow by 14 plus per cent in next 4-5 years.
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