An initiative to form an institutional mechanism like a society, has been launched for brand building of the Indian pharmaceutical industry in all key countries. The move is in the wake of increasing adverse reports about the domestic industry in the media abroad.

The assistance of India Brand Equity Foundation (IBEF) is being sought in this direction and the commerce ministry has entrusted the task of finalising the initiative with the Pharmexcil. The ministry has also advised the Pharmexcil to consult the IBEF and also hold meetings with Exim Bank in this regard, sources said. The Pharmexcil has been asked to prepare a note in this regard and submit to the commerce ministry, according to sources.

The move is being made especially against the backdrop of growing instances of 'malicious campaigns’ in some countries against the Indian industry. The recent reports on the quantum of spurious drugs in the country quoting exaggerated figures in some foreign media were cited as examples of such campaigns. Besides, the industry especially the exporters have the feeling that India’s capabilities, including the world class infrastructure and quality standards, were not presented well at the international markets.

The industry has suggested that the government or the associations should be in a position to immediately clarify on unwarranted media reports, when they appear. Besides, the drug regulatory authorities should interact with their counter parts in other countries regularly to allay the misplaced fears, if any, about the Indian industry and also to pass on information on the regulatory measures being taken from time to time, as per the industry.

One of the suggestions, made by the commerce ministry to address the issue, is to create an institutional mechanism with the sole purpose of Indian pharma brand building. An autonomous society with a fund support of Rs 2-5 crore thus could be made with the support of the IBEF. The society may have pharma industry technical experts, senior officials from concerned departments as members and will work in collaboration with the Indian mission abroad.

IBEF is a public-private partnership between the Ministry of Commerce and Industry, and the Confederation of Indian Industry. The Foundation's primary objective is to build positive economic perceptions of India globally. IBEF aims to effectively present India business perspective and leverage business partnerships in a globalising market place.