India to become global drug innovation hub

With an election campaign underway in India, the Minister of Chemicals  and Fertilisers, Ram Vailas Paswan, has backed a program to create  500,000 jobs in the pharmaceutical sector in four years, turning the  country into "one of the top five pharmaceutical innovation hubs."  Between them, the government and private drugmakers would be called upon  to invest 50.0 billion rupees ($965.0 million) to achieve this goal.

The election means that a decision could be delayed until after May 16,  when the weeks-long voting ends and negotiations get underway to form a  new coalition. In the meantime, India's Daily News & Analysis reports  that Mr Paswan inaugurated four ayurveda drug stores and a new  pharmaceutical company during the run up to the announcement of the  poll.

"The present state of infrastructure and R&D of the pharma industry in  the country is rather weak," he told The Times of India. Mr Paswan added  that, "once this proposal comes through, India will become a global  pharma hub. Five of 10 drugs being discovered in the world will be in  India."