Appreciation of Rupee major concern: Minister

Hyderabad, June 27 (UNI) Union Minister of state for Finance Pawan Kumar Bansal today assured the Pharma industry that the Centre would take measures to resolve the issue of exports becoming 'expensive' in the wake of appreciation of rupee.

Inaugurating an 'India- Latin American Countries (LAC) International Pharma meet', organised by Pharmaceutical Exporters Council of India here, Mr Bansal said the issue was of a major concern to the Indian government.

Observing that the country had achieved 9.4 per cent growth rate last year, he said pharma industry was playing a significant role in the country's economic growth.

'The regulation mechanism was strong enough and it was producing quality pharma products at affordable prices being the fourth largest country in the world in terms of volume', the minister said.

Stating that India was one of the favourite destinations for investments in the pharma sector, he said the Latin American countries and India should work together to provide better health care to every citizen.

UNI