IB Times:Make in India push,Public procurement policy booster dose to pharma sector
The country’s pharma sector has got a major Make in India boost with a government policy seeking to ensure that at least 75 per cent of purchases for public procurement programmes should be locally made, media reports say.
The Department of Pharmaceuticals (DoP) has instructed the officials to achieve 75 per cent this fiscal. The local content could go up to 90 per cent by 2023-25- according to reports.
In case of formulations that are not manufactured in India, the minimum local content should be 10 per cent in FY19, slated to rise to 15 per cent in 2019-21, 20 per cent in 2021-23 and up to 30 per cent in 2023-25, the DoP order mandates.