Pharma sector to reduce import of raw materials
image for illustrative purpose
New Delhi: Commerce Secretary Rajesh Agrawal on Saturday asked the pharmaceutical industry to reduce its dependence on critical imported raw materials and diversify export supply chains to better navigate global uncertainties.
Addressing an event in Hyderabad on the sector, he said while India exports to around 200 countries, there remains significant scope for expansion and resilience-building through a stronger market presence.
Emphasising the need to navigate an increasingly uncertain and geopolitically volatile global environment, he stressed: "the importance of ensuring greater self-reliance by meeting 80-90 per cent (or higher) of domestic pharmaceutical requirements through indigenous production, while reducing critical import dependencies in APIs, bulk drugs, and intermediates".
