New Delhi: Considering the robust growth witnessed by the pharmaceutical sector in the country, the government has decided to create a separate department dedicated to it.
“We have already taken an in-principle decision to create a separate department for the pharmaceutical sector,” Union minister for chemicals and fertilizers Ram Vilas Paswan said on Tuesday.
He said the proposed department for the pharma sector would be carved out of the existing chemical and fertilizer department.
A senior government official said the decision was taken at a meeting of the committee of secretaries held last month.
While the modalities are being worked out to give a final shape to the new department, drug price regulator National Pharmaceutical Pricing Authority would become a part of the proposed department, the official said. The official added that keeping in mind the country’s growing exports, the pharmaceuticals sector too needed a specialized department just as the informationa technology industry.
“Having a full-fledged department exclusively dedicated to the pharmaceutical industry would help the sector, especially when exports are accounting for close to 50% of the total pharma production in the country,” the official said.
The entire process may get completed in a few months. The government also said it has got six proposals from six states for setting up petroleum, chemicals and petrochemical investment regions after a policy in that regard was approved.