Union Minister Piyush Goyal Meets Pharma Bosses, Announces Divestment

Commerce and Industry Minister Piyush Goyal on Sunday held an interaction with bosses of various pharmaceutical industry companies and representatives of the sector-related bodies. During the interaction, Mr Goyal lauded the pharma industry for its efforts during the prevailing COVID-19 crisis and said that India has been recognised as the ‘Pharmacy of the World', for providing essential medicines to over 120 countries during the last two months. Mr Goyal also said that the anti-dumping investigation process has been expedited. and assured the industry bosses of prompt remedial action in case of any roadblock or any instance of unfair competition. He informed the gathering that the government has decided to disinvest in certain pharma industry PSUs, and invited the companies to use PSUs for plug and play model of manufacturing.

The minister assured the industry of the government's support in its expansion, diversification and strengthening, adding that the pharma industry has an important role to play in the Aatmanirbhar Bharat campaign.

The meeting, held through video conferencing was also attended by junior ministers and secretaries of the health and commerce ministries.

The minister also said that the country has adequate production capacity and abundant stock of hydroxychloroquine and paracetamol for its projected domestic requirements and putting restrictions on their exports is a measure to ensure that the medicines are made available to all the needy nations and no unscrupulous element stocks them for unwarranted gains.

Mr Goyal also claimed that early announcement of the lockdown helped the country in preventing and containing the scourge of pandemic, and also scaling up the health infrastructure and build capacity.