“( In the ) earlier days, there were no regulations ( in India ). And laws were only on report”, said Indian Pharmaceutical Alliance secretary-general Sudarshan Jain. ” Now we’ve got Schedule M, which is very close to the global market ( standards )”.
To increase standards and increase India’s pharmaceutical market, the Modi government revised Schedule M, a set of laws under the Drugs and Cosmetics Act, past December.
Drug manufacturers currently have until the end of the year to more closely align their quality controls with the WHO’s Good Manufacturing Practices ( GMP ) for pharma products. In doing so, smaller and choice Indian businesses could gain entry into the global trade market.
The South Asian nation could gain more ground in the world pharma market with a potential decoupling between the US and China’s biotech sectors.
Some small and medium local businesses are requesting a two-year expansion of the date, but with little day left to clean up their act. With its attention on increasing imports, may India cure its biotech ills, the program Insight asks.
WATCH: Bad medicine — Why is India frantically working to raise pharma standards in the midst of US-China trade friction ( 46: 58 )?