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Coronavirus pandemic underlined need for higher budget allocation for healthcare sector
India
Published: Sunday, January 24, 2021, 12:51 [IST]
New Delhi, Jan 24: The COVID-19 pandemic has emphasised the key role of healthcare in the lives of people, underlining the importance of higher budget allocation for improving the healthcare infrastructure in the country, sectoral players said.
The pharma sector which has played a leading role as the pharmacy of the world said it expects support and incentives especially for research & development and innovation in the coming budget. The pandemic has completely changed the dynamics of the Indian healthcare ecosystem, NATHEALTH President and Apollo Hospitals Executive Vice-Chairperson Preetha Reddy told PTI.
Picture used for representational purpose only
AHMEDABAD/SURAT/ VADODARA: After having battled Covid-induced disruptions and slowdown, businesses are now looking at 2021 with great hopes of recovery. Several industrial sectors are expecting far-reaching measures in the forthcoming Union Budget for 2021-22 to boost economic revival.
Special policy needed to boost APIs production
To become self-reliant in drug manufacturing, the pharmaceutical industry wants a special policy and investment-based tax incentives for APIs (pharma raw materials) manufacturing in India Currently, the industry is heavily dependent on China for APIs.
The Indian Drug Manufacturers Association also called for strengthening healthcare infrastructure in rural and semi-urban areas, and it has suggested a weighted tax deduction of 200% on the amount spent for such infrastructure activities. The other demands of the sector include Customs duty exemption to medical devices, applying 12% GST on medical grade alc
Government to give priority to suppliers sourcing maximum local input materials in procurement of medicines
A Class-I supplier will use local content equal to or more than 80 percent, Class-II supplier use 50-80 percent of local content and Non-Local supplier will use less than 50 percent. Class-I and Class-II suppliers will get higher priority. January 07, 2021 / 06:23 PM IST
In yet another move to promote the manufacture of pharmaceuticals in India, the government has issued revised guidelines to give preference to suppliers who use more locally-available input materials in public procurement medicines.
According to the latest guidelines issued by the Department of Pharmaceuticals, the government would implement the revised Public Procurement (Preference to Make in India), Order 2017, which has introduced a concept of Class-I, II and non-local suppliers, based on which they will get preference in government purchases of goods and services.