Government said it is revising its drugs law to make it easier for companies to do business while ensuring the safety and efficacy of medicines, in Prime Minister Narendra Modi’s latest move to encourage industry.
Until last year, India was trying to tweak its archaic drugs and Cosmetics Act of 1940, and an amendment bill was introduced in the upper house of parliament in 2013. But that has now been withdrawn, the government said in a statement on Wednesday. Ministers decided the current law cannot effectively regulate areas such as biological drugs, stem cells and regenerative medicines, medical devices, and clinical trials, the statement said. Draft guidelines to regulate the medical devices industry have already been prepared after consultations with stakeholders, and these will be “notified shortly.”