Hyderabad, Sep 15 (UNI)Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today assured all possible help from the State Government for the growth of pharmaceutical industry in the State.
Inaugurating the two-day national seminar on 'Road Map to Indian Drug Industry,' organised by the Bulk Drug Manufacturers Association of India here, he hoped a number of new avenues would be open for drug industry.
His government had created the best infrastructure facilities in the State to foster industrial growth.
Claiming Hyderabad had became the capital of pharmaceutical industry in India, he said the government had given priority for the growth of the sector in the State.
He urged manufacturers to look at Hyderabad and other parts of the State for investments in the sector.
The government had taken several initiatives for promotion of the pharma sector and a pharma city was coming up in Mahaboobnagar.
Andhra Pradesh Major Industries Minister J Geeta Reddy said the government had identified the pharma sector as one with potential for growth.
The State ranked number one in the manufacture of bulk drugs and third in making formulations in the country.The turnover of the sector in the State was Rs 12,000 croe and exports were Rs 7,100 crore.
The State was contributing 40 per cent of the total Indian bulk drug production and 50 per cent of the Indian bulk drug exports.
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