Screaming Skull
SENIOR MEMBER
- Joined
- Mar 12, 2009
- Messages
- 1,451
- Reaction score
- 0
April 08, 2009
A high-level inter-ministerial task force wants the business of narcotics to be simplified, something which, it said, would be an opportunity for the over $17-billion Indian pharmaceutical industry.
The narcotics formulations should be looked at "as an important opportunity and not just a menace", the task force said in its report on opportunities in the pharmaceutical sector submitted to the commerce ministry.
Narcotics are key ingredients in the intermediate formulations of $712 billion world pharmaceutical market.
The task force, comprising senior officials of the ministries of commerce, finance and external affairs, has said India is emerging as a significant supplier of finished 'active pharmaceutical ingredients' and formulations to the global market.
"It is, therefore, necessary to simplify the procedure and to capture the global narcotics business in certain classes of narcotics... the entire process of approvals from multiple agencies such as International Narcotics Control Board, Drug Controller General of India, Ministry of Finance and State Narcotics Boards, the quota systems and canalisations should be relooked at in promoting export production."
It said the genuine manufacture exporters may be permitted to directly import narcotic substances based on risk profiling and past records, doing away with Government Opium & Alkaloids Works and Ministry of Finance approvals.
"The quota system should be done away for export production as it is difficult to assess import requirements one year ahead, especially when the country desires to capture a bigger share," it said.
The task force, which also included officials from the Department of Chemicals and Pharmaceuticals, Planning Commission and CEOs of several pharmaceutical firms, said that currently the procedure for imports of narcotics is cumbersome creating avoidable hurdles to genuine manufacturers resulting in abandoning of this opportunity.
"Imports of narcotics material is permitted only through Government Opium and Alkaloids Works," it added.
