|
Ever since the Narendra Modi-led BJP government came to power in the year 2014, there have been renewed talk of an exclusive Union ministry for pharmaceuticals and medical devices. There can be no two opinions about the growth potential of pharmaceuticals and medical devices sectors in the country. So, for the growth of these sectors to its full potential, an exclusive ministry at the Centre is the need of the hour. The formation of a separate department, Department for Pharmaceuticals, for handling pricing related issues of these sectors in 2008 was a first step in this regard. But after that there was no move from the Central government to form an exclusive ministry for pharmaceuticals and medical devices for a long time. Eventually, it was the then Chemicals & Fertilizers Minister late Anant Kumar who set the ball rolling for the formation of a dedicated ministry for pharmaceuticals and medical devices in the year 2015. On more than one occasion, he had indicated that the Central government is seriously considering the formation of a dedicated ministry for pharmaceuticals and medical devices. In fact, the government had held discussions with different stakeholders on this issue. The matter was also brought to the notice of the Prime Minister’s Office and the PMO was reported to have convinced of such a need in the context of huge potential for growth in these two industry segments in the coming years. But since then, the Union government appears to have developed cold feet on the issue as there has been no visible movement from the government on the issue. As the Indian pharmaceutical and medical devices industries are literally cruising to capture new heights, there is definitely an urgent need to create an appropriate regulatory environment for the growth of these sectors.
From a mere Rs.10 crore in 1948 to more than Rs. 2 lakh crore at present, the Indian pharmaceutical industry has indeed come a long way to adorn the epithet of 'the pharmacy of the world', exporting affordable quality medicines to around 200 countries in the world, including the developed countries like the US and Europe. Of course, it is a great feat for a sector which was dominated by the multinational drug companies until 1970's. More importantly, the leapfrog jump of the Indian pharmaceutical industry, and of late that of the medical devices industry, is continuing as the industry since then did not look back and, in fact, it is literally cruising to capture new heights. The Covid-19 pandemic has once again brought the Indian pharmaceutical and medical devices industries into limelight and has underscored the need to have an exclusive ministry for these two sectors to create an appropriate regulatory environment for the growth of these sectors. Presently, both these sectors are regulated by different ministries and agencies. While all the administrative and pricing related policies are regulated by the Ministry of Chemicals and Fertilizers, the issues related to quality of the drugs produced and marketed in the country are regulated by the Union Health Ministry. Policies related to investment and IPR as well as that of exports are regulated by the Ministry of Commerce and Industry. This multiple regulatory mechanism very often poses hurdles to the growth of these sectors to its full potential. This was very much evident during the time of Covid-19 pandemic when all the nations were looking to India for medicines. While all these nations were asking India for medicines such as hydroxylchloroquine, azithromycin, paracetamol, etc as well as medical devices including PPEs to contain this highly infectious disease, India was found fumbling to export these medicines. Things would have been different had there been a separate ministry for the pharma and medical devices industry. Much water has flowed down the bridge since then. Now, the government should shed its cavalier attitude and take some proactive actions to form an exclusive central ministry for pharmaceuticals and medical devices.
|