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Abstract

REVIEW ON IMPACT OF COVID-19 ON API IMPORT IN INDIA

*Abhale Swapnali Sanjay and Shaikh Tausif Asifuddin

ABSTRACT

The coronavirus disease (COVID-19) pandemic, which originated in the city of Wuhan, China, has quickly spread to various countries, with many cases having been reported worldwide. Indian government implemented a lockdown throughout the country that started on March 24th, 2020, to reduce the transmission of the virus. This outbreak is inextricably linked to the economy of the nation, as it has dramatically impeded industrial sectors because people worldwide are currently cautious about engaging in business in the affected regions. India Pharmaceutical industry despite being a global market leader at generic drug formulations largely depends on imported API’s from china. COVID-19 is wakeup call for Indian API Industry to reduce china dependence. The Indian government approved a plan in March 2020 aimed at increasing domestic API production in India. Under the plan, the government of India will provide grants-in-aid to states with a maximum limit of INR 1,000 crore ($131 million) for each bulk drug park.

Keywords: Corona virus impact, Pharmaceutical industry, Active pharmaceutical ingredient, Bulk drug, china dependence, Government funding.


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