Published on July 7, 2014

With approaching budget session government is planning to take best of its measures to revive the Indian economy. The foremost priority of the government is to bring in such policies which could send positive hopes to the manufacturers and could rebuild the consumers’ confidence. In view of the enduring benefits of R&D, the industry has been demanding the central government to provide exemption from central excise duty on all the raw materials and consumable goods imported.

Industry is expecting healthy package from budget along with positive moves to improve its deteriorating health. The foremost issue is to synchronize the organizations operating under different heads. Department of Pharmaceuticals whose main function is to focus on pharma is functioning under the leadership of Chemicals and fertilizers ministry. On other side Central Drug Research Institute (CDRI) whose main task is to focus on the drug research and accomplishments of low cost drugs in order to reach out to all sects of the society is being assigned under the Health and Welfare ministry. Similar purpose with completely different operating teams lead to inadequacies and the sole motive get dissolved.

There are many other agendas like rise in healthcare expenditure, giving high priorities to FDI and focusing more on R&D issue of clinical trials which need to be given high priority and to be resolved as soon as possible. The prices for chemicals used in pharma sector have slowed down for this week. Impact of Iraq crisis has weakened with the proceeding weeks and prices has lower down. Overall market is being operated at slower and steady rate