NMP Expected to Enhance Indian Pharma Industry
Drug pharmaceutical manufacturers, drug production industry experts opine that NMP would help to leverage the benefits from improved infrastructure, simplification of business regulations and skill upgrade measures.
India's National Manufacturing Policy (NMP) is viewed to promote the productivity of the pharmaceutical sector.
In this policy, pharmaceutical industry is classified under special focus sector. Drug pharmaceutical manufacturers, drug production industry experts opine that NMP would help to leverage the benefits from improved infrastructure, simplification of business regulations and skill upgrade measures.
Indian pharma sector is currently valued at US$ 21 billion. According to Jai Hiremath, chairman - CII Pharma Summit 2011 and vice chairman and managing director - Hikal Ltd., the pharma industry has been showing robust growth. The domestic pharma industry is expected to grow at a CAGR of 15- 20 per cent with a turnover of US$ 50 billion by 2020.
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