The
government is planning to set up a venture capital fund with a corpus of Rs. 2,000
crore aimed at strengthening research and development capabilities in Pharmaceuticalsector.
Commerce,
industry and textiles minister Mr. Anand Sharma, who chaired the first meeting
of the consultative committee on pharmaceutical exports on Tuesday, said a
panel of secretaries would also be set up to devise a strategy for the growth
of the Pharma industry and the concern. The progress would be reviewed after
three months. “We are considering a proposal of venture capital fund of Rs. 2,000
crore for the drug industry. We are talking with exim bank for this”, Mr.
Sharma told reporters.
He
assured industry representatives that the government will take up the issue of
non- tariff barriers being mounted by the US and the EU against Indian Pharma Industry
in bilateral forums at appropriate levels. “The government is fully committed
to support this vibrant sector,” said Mr. Sharma.
TIMES OF INDIA 4 JULY 2012
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