US industry seeks pharma R&D policy incentives in India
The US industry has said that India should come out with a research and development (R&D) policy for its pharmaceutical sector. The USA-India Chamber of Commerce has pressed the Indian government for an R&D policy that will help stabilize the global supply chain in terms of active pharmaceutical ingredients (API).
The Boston-based chamber has asked the Indian government to include several incentives in the upcoming budget for developing drugs and incentives for R&D. The chamber has said the Indian government should also incentivize drug manufacturers in the biopharma sector to help them move up the value chain.
The budget for fiscal year 2023-24 is scheduled to be tabled in parliament by Nirmala Sitharaman, India’s Finance Minister, on February 1.
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