The pharmaceutical industry has called upon the government to reduce tax on the subsidised drugs so that it will help the pharma industry to sustain the virtually falling rupee.

Participating during the inaugural of fourth edition of ‘Pharmac India’ exhibition of pharma machinery, equipment, bulk drugs, API & Material industry in Hyderabad, leading pharma players from across the country stressed on the need to cut down the tax on subsidized drugs for the industry to sustain against the backdrop of falling rupee.

Speaking on the occasion, Kamlesh Patel, chairman, Pharmac India committee and also chairman IDMA Gujarat state, said the price revision for core drugs as desired by the government is acceptable to us. However with the US Dollar ($) rising, the cost of raw materials imported will consequently rise, resulting in the cost of these drugs too going up. The government has agreed to revisit the pricing aspect after a year. However the government which expects us to subsidise on the cost of drugs is not reducing the taxes on these drugs, it imposes 20 per cent taxes on medicines.

The three-day exhibition scheduled from September 5-7, 2013 at Hitex Exhibition Centre, Hyderabad is being organized by Orbitz Exhibitions Pvt Ltd in association with one of the premier associations for the pharma industry namely India Drugs Manufacturing Association (IDMA).

The three day expo is looking at boosting the growth of the pharma industry by generating new business opportunities among visitors and exhibitors with a strong networking presence. For three days, the pharma exhibition will host the entire gamut of pharma industry under one roof, with the participation of more than 150 exhibitors and expected involvement of around 5000 trade visitors.

We have presented a white paper to the government on what needs to be done to face the onslaught of the Chinese drug industry and are awaiting the response. Chinese drug industry gets active support from their government through various subsidies.  Therefore they are in a position to supply at a lesser cost to kill our industry. Once they accomplish the task, they will make an upward revision in the cost of supply. We are trying to make our Government aware of the dangers and awake before it is too late, IDMA secretary general Daara Patel said.

The exhibition is supported by Pharmexcil, BDMA and CIPI. Commenting on the occasion, Rupen Vikamsey, MD, Orbitz Exhibitions Pvt. Ltd, said, "We are upbeat with the success of this exhibition. It motivates us to organize more such events. In Hyderabad - the bulk drugs capital of India, ‘Pharmac India’ has played an instrumental role in bringing together manufacturers and buyers on a common platform and thereby contributed substantially to the growth of the industry. Our main aim is to attract more customers and share the latest technologies, innovations from the pharma field.”

Pharmac India is the only one of its kind SME-centric event in the Indian pharmaceutical industry.