Besides, the government will also set up mega pharma parks and National Bulk Drugs Development Authority, Kumar said while speaking at an event to mark 2015 as Year of Active Pharmaceutical Ingredients (API).
"I assure you that whatever is recommended by the Katoch committee, I assure you we will implement that for the benefit of bulk drugs industry," the minister said.
The government had set set up committee of secretaries, headed by Secretary, Health Research, V M Katoch to suggest ways to reduce the dependence on bulk drug imports from China.
"There are recommendations like providing land at concessional rates, setting up of mega pharma parks, providing power, removing cross subsidy charges that's almost 50 per cent of power charges...," he further said.
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India meets about 80 per cent of its demand of bulk drugs or API, used as raw materials by the pharmaceutical industry, from Chinese imports.
"I have one medicine to improve the overall health of the pharma sector and that is to develop bulk drugs and increase its domestic production. It will eventually make the pharma sector globally competitive," the minister said.
The Minister also added that he along with Minister of State for Fertiliser Hansraj Gangaram Ahir will personally meet Prime Minister Narendra Modi and hold discussions with the
Finance Minister Arun Jaitley over the issue.
Kumar asked pharmaceutical firms not to compromise with quality, environment and follow regulations.
The Minister added that if India had to compete with China, the facilities and incentives that are provided to greenfield units must be given to brownfield units also.