PLI schemes for pharma and medical equipment to make India secure in critical drugs: Mandaviya
Speaking at the inaugural session of the first Global Innovation Summit 2021, Mandaviya said that India has all necessary infrastructures and ecosystems to become the leader in the pharma space
The Production Linked Incentive (PLI) schemes for the pharma and medical equipment sectors would go a long way in making the country secure when it comes to critical drugs, Mansukh Mandaviya, Union Minister for Chemicals and Fertilisers, said this week.
Speaking at the inaugural session of the first Global Innovation Summit 2021 organised by the Indian Pharmaceutical Alliance (IPA), the minister thanked the domestic pharma industry for playing a stellar role in supplying medicines and vaccines amid the COVID-19 pandemic.
”The Prime Minister has given the vision of Atma Nirbhar Bharat that is a self-reliant India. In recent times, India has announced different PLI schemes for pharmaceuticals and medical equipment. It will not only help reduce import burden, but also help us become secure in critical drugs,” Mandaviya noted.
Appreciating the efforts of the industry during the pandemic, he said that the Indian pharma sector thrived in the challenging time and proved itself as the pharmacy of the world. ”In the initial period of pandemic, India provided medical drugs to 150 countries in the time of need. We are still continuing the supply of essential drugs,” he stated.
He added that under the leadership of PM Modi, India is focussing on the complete cycle of pharmaceuticals, starting with innovation, R&D to finished products.
”Our research policy on health is also at an advanced stage which will provide the right platform for innovation towards our scholars,” he said.
Mandaviya noted that India has all necessary infrastructures and ecosystems to become the leader in the pharma space.
”This pandemic has given the world so many lessons and the importance of drug security is one of them…I urge upon the world to join the journey of discovery in India, Make in India and invest in India,” he stated.
He further said, ”I am very much confident that India will achieve a very ambitious target of $130 billion pharma industry by 2030. The Prime Minister has also given a clarion call for vaccines for all to the world and committed a contribution of five billion doses by 2022.” The pharma industry is aggressively working towards achieving the target ahead of time, he noted.