1-4 September, 2006 Pragati Maidan, New Delhi, India
    Business To Get Better For Indian Pharma Cos In US
Applications’ clearance to be faster





Food and Drug Administration (FDA) of the US may soon open an office in India to facilitate faster clearance of applications of Indian pharma companies, who intend to do business in the US.

“Currently, it takes 27 months to process the applications. The FDA’s move will reduce this to 10-12 months,” Ficci’s secretary-general Amit Mitra told a leading financial daily.

Mitra was in the US last month, deliberating with key US government officials for increasing the Indo-US trade relations in key areas such as ports, airports, food-processing, entertainment, pharmaceuticals and science & technology.

“The senior FDA officials personally attended to the requests of Indian pharma companies and promised to speed up the application processing with Ficci’s help. They have not ruled out setting up their office in India too, which in itself is a big step,” Mitra said.

India Inc is also going all-out to attract investments from California, which is the fifth largest economy in the world.

A big contingent from India Inc and five-eight state governments will be travelling to Los Angeles in August this year to participate in the US-India Investment seminar and business expo, organised jointly by Ficci and US India Business Forum,between August 19-21 in Los Angles.

“The thrust sectors will include energy, housing and infrastructure, agri-food processing and animation, gaming and special effects. India will be represented by top brass of all relevant companies along with key officials of state governments, which want to attract investment states,” Ficci officials said.

On policy matters, the US government’s department of commerce, treasury, transportation and the state department have shown keen interest in making investments in India.
“US administration has also shown keen interest in extending business interest in the area of environment and scientific research. Virginia has reacted positively to our suggestion of collaboration between ports in Virgina and India,” Mitra added.

Date: 11-Jul-2006

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