There is a need to incentivise R and D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies. Outlining the sector’s wish list for the upcoming Union Budget, Organisation of Pharmaceutical Producers of India (OPPI) Director General Anil Matai urged the government to explore methods to incentivise R and D investments, such as deductions on R and D expenses, research-linked incentives for MNCs, and corporate tax concessions.
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