Indian Economy News

Union Minister of Chemicals & Fertilizers Dr. Mansukh Mandaviya met the representatives from MSME Pharma companies, stressed the need for self-regulation in the MSME pharma sector

Dr. Mansukh Mandaviya, the Union Minister of Chemicals & Fertilisers and Health & Family Welfare, met with the representatives from pharma companies from the micro, small, and medium enterprises (MSMEs) and stated, “It is crucial for MSME Pharma companies. to pay attention to drug quality and steadily implement Good Manufacturing Practices (GMP) through self-regulation.”

The Union Minister stressed the necessity of self-regulation in the MSME pharmaceutical industry, emphasising how crucial it is for India to keep its title as the "Pharmacy of the World."

On the assurance of the industry, a significant decision was made on July 11, 2023, that would gradually make Schedule M mandatory for the MSME pharmaceutical sector. The Union Minister claimed that this would ease the burden of compliance and aid in quality assurance.

Dr. Mansukh Mandaviya has directed the Drugs Controller General of India (DCGI) to take immediate action against all pharmaceutical manufacturing companies that make spurious drugs. He also claimed that special squads have been formed to inspect drug manufacturing companies and rigorous actions have been taken.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.