Wockhardt chairman seeks GST exemption for antibiotics discovered in India

Wockhardt Chairman Habil Khorakiwala has called for a Goods and Services Tax (GST) exemption for antibiotics discovered in India. He argues that such an exemption would encourage domestic research and development (R&D) in the pharmaceutical sector and reduce the cost of essential medicines. Khorakiwala highlighted the challenges faced by Indian pharmaceutical companies in competing with global giants, emphasizing the need for supportive policies to foster innovation. The proposed GST exemption is seen as a way to incentivize the discovery and development of new antibiotics, which are crucial in combating antibiotic resistance. Khorakiwala’s appeal comes at a time when the Indian government is focusing on boosting the pharmaceutical industry through various initiatives, including the Production Linked Incentive (PLI) scheme. The exemption, if granted, could significantly impact the cost structure of antibiotics and enhance the competitiveness of Indian pharmaceutical firms in the global market.