Gandhinagar, March 5 (IANS): Putting to rest apprehensions on the non-availability of the Active Pharmaceutical Ingredient (API) in India, Union Minister of Chemicals and Fertilizers Sadanand Gowda on Thursday said contrary to the fears of API stock lasting only for a month, there was ample stock to last for at least three months.

"There is no shortage of API or any other medicine as reported in the media. We have got sufficient medicines, API and there won't be any shortage of drugs in the country for at least three months," said Gowda.

Gowda was at the Mahatma Mandir to inaugurate 'India Pharma 2020' -- a 3-day event for the 5th international conference on pharmaceutical industry in Gandhinagar. The theme of this year is 'Meeting challenges for affordable and quality healthcare'.

Minister of State for Chemicals and Fertilizers Mansukh mandaviya said, "India's pharma sector is growing at 12%. We have taken so many initiatives that the Modi government will be remembered for health reforms. Today the medical consumption in the country is increasing. We have got a transparent democracy because of which other countries like to do business with us."

The Minister said in order to reduce Chinese dependence for API, the Central government was taking certain steps. In one such move, it has sanctioned Gujarat's proposal to set up an API Park at Bharuch which will be spanned across 1,000 acres.

"At least four states have proposed to set up such Parks. Gujarat, being the pharmaceutical hub of the country, had also proposed such a park for which the centre given its go-ahead. There will also be a medical device park set up at Limbdi near Rajkot over 250 acres," Mandaviya said.