Summit to draw future of pharma, medical devices

The Centre will organise a summit for the Indian pharmaceutical and medical devices industries and invite national and international entrepreneurs to it, Union Minister of Chemicals and Fertilisers and Pharmaceuticals Ananth Kumar has said.

The summit will discuss and chart the future course of action for the two industries, he told journalists on the sidelines of India Pharma and India Medical Device 2017 in the city on Saturday.

Kumar said he had met representatives of medical devices companies during the day and they had sought friendly taxation and development of medical devices parks. “They want simplifiction of various procedural issues. More impetus and secured business for the indigenous industry in public health procurement are what they have sought. They have also come out with their analysis of growth of medical devices. There is a vast scope. The pharma and medical devices industries have grown at 16% in the last two-and-a-half-years,” he said.