Indian Government to boost image of drug exporters
Indian Government to set up a special entity in response to recent setbacks overseas
The Indian Government has decided to get into partnership with private drug manufacturers and set up a special entity to launch a campaign, 'Brand India Pharma', aimed at boosting the image of drug exporters after recent setbacks overseas.
The Special Purpose Vehicle (SPV) would be born within the next few weeks, according to India’s Commerce Secretary Rajeev Kher.
India’s pharmaceutical exports growth rate slowed sharply in 2013-14 to just 1.2% because of import alerts and bans by US regulators, a slowdown in the EU and increased competition. India continues to be the third-largest exporter of drugs to the United States by volume.