Centre to Sell Stake in Certain Pharma PSUs, Says Piyush Goyal

New Delhi: Commerce Minister Piyush Goyal on Sunday said that the Union government has decided to disinvest in certain pharmaceutical public sector units (PSU). Also Read – FDI Inflows Rise 18% to $73 bn in FY20, Says Union Minister Piyush Goyal

During an interaction with industry leaders of the pharmaceutical sector, he invited the Indian companies to use PSUs for ‘plug and play’ model of manufacturing. Also Read – ‘Offered Them 125 Trains But Received Details of Just 41,’ Piyush Goyal Slams Maharashtra Government

According to an official statement, Goyal also said that India should become a self-reliant country in the supply of active pharmaceutical ingredients (APIs) as early as possible with the government taking steps in that direction in line with Prime Minister Narendra Modi’s vision of ‘Aatmanirbhar Bharat’. Also Read – Maharashtra Couldn’t Bring Enough Passengers For Shramik Specials, Says Central Railways

He assured the industry of full government support in the industry’s expansion, diversification and strengthening.

Mentioning the Centre’s initiatives to make the country self-sufficient in terms of APIs, he said that the government has already approved the scheme on promotion of bulk drug parks for financing common infrastructure facilities in three bulk drug parks.

Also, Production Linked Incentive Scheme for promotion of domestic manufacturing of critical KSMs or drug intermediates and APIs in the country has been given a go ahead, he added.

During his interaction, Goyal lauded the pharma industry for making India proud, by rising to the occasion during the Covid crisis. He said that India has been recognised as the ‘Pharmacy of the World’ as over 120 countries got some essential medicines, during the last two months, including 40 of them getting them in the form of grant, free of cost.

The minister said that the anti-dumping investigation process has been expedited and assured that in case of ongoing bilateral free trade agreements, if any roadblock or unfair competition is being noticed, the government may be informed and prompt remedial action will be taken.

He said the market players should look at large untapped markets in Eastern Europe and Russia.

Calling upon a collaborative route in the R&D efforts, the minister said the academicians, universities, ICMR and private sector should join hands.