Separate
ministry for pharma sector On the inverted duty structure hampering the pharma
and medical devices industries, Mr. Kumar said the government has been
following up the issue for the last one-and-a-half years. Union Fertilisers
Minister Ananth Kumar on Wednesday said there will be a separate ministry for
pharma and medical devices sector in the next one year, and assured that the
government will soon implement the Katoch panel recommendations to cut bulk
drugs import from China. I want to see that pharmaceutical and
medical devices become a separate ministry and we are already in touch with PMO
and we are pursuing that it becomes a separate ministry. I assure you in next
one year you will emerge as a separate entity as pharma and medical devices
ministry,” Mr. Kumar said at an event organised by PHD Chamber of Commerce. In
the next 100 days, we are going to implement the Katoch committee report for
the benefit of the pharma industry. We have already accepted it, it is in
circulation. We are having discussions with the PMO also, and to implement some
of the recommendations even if we have to go to the Cabinet, we will go,” the
Minister said. On the inverted duty structure hampering the pharma and medical
devices industries, Mr. Kumar said the government has been following up the
issue for the last one-and-a-half years. There is a huge question of FTA and
inverted duty structure, which needs to be attempted...I request office-bearers
of PHD Chamber of Commerce to come out with a memorandum regarding these
inverted duties, which will be discussed with the Finance Ministry itself
before the budget, that is an assurance,” he said.
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