The Government is considering a proposal of creating venture capital fund of 2,000 crore rupees to promote Research and Development, R and D, in the Pharmaceutical sector.Commerce and Industry Minister Anand Sharma told reporters in New Delhi that his ministry is in talks with Exim Bank for this purpose. Mr Sharma on Tuesday reviewed the pharma sector.In the meeting, the pharma industry representatives raised issues like problems in getting approvals from the Health Ministry.The Minister said all the concerns of the industry will be discussed by a committee of secretaries which will include commerce secretary, DIPP secretary and DCGI.AIR correspondent reports, India is the third largest producer of pharma products by volume and the industry is growing at a rate of 15-20 per cent annually. The domestic pharmaceutical industry is pegged at 20 billion US Dollar and is expected to touch 75 billion US Dollar by the end of this decade. India's pharma exports stood at USD 13 billion last year. The country produces a fifth of the generic medicines of the world.