Mansukh Mandaviya discusses roadmap for Indian pharmaceutical sector

"Let us move from 'Volume' to "Value' leadership to capture global pharmaceutical market. It is time to accumulate knowledge from global best practices in research, manufacturing and innovation and develop our own models focused on accelerating production to meet the domestic demand while increasing our global footprint," Union Minister for Chemicals and Fertilizers and Health and Family Welfare, Mansukh Mandaviya said at the interactive session with Indian Pharmaceutical Alliance.

The objective of the meeting was to discuss India's Pharma Vision 2047 and the roadmap for the Indian pharmaceutical sector. The session discussed the current position of the pharma industry in India, key initiatives taken by the Government in the last few years and collaborative steps that will help India to realize this vision.

Reiterating the Prime Minister's vision of attaining Aatmanirbharta in all fields, Mandaviya pushed for making the pharmaceutical sector leapfrog in its growth trajectory in the upcoming years.

He said, "We already have the required manpower and brand power and Indian companies today are at an inflexion point to capture top global positions. India has been acknowledged as the pharmacy of the world based on its generic medicines production and volume share in the global market. It is time to move ahead and capture the top global positions based on the value too."

While reiterating India's philosophy of "Vasudaiva Kutumbakam", he said, "We have always believed in supporting the world while also balancing our domestic demands. It is during the pandemic crisis when world looked up to India, we delivered. This has led to a global appreciation of India's strengths and we must now use this opportunity to take it to the next level of 'Discover and Make in India'."

Mandaviya underscored the importance of long-term policies which provide stability to the industry.

Emphasising that the Government is committed to supporting the Pharma Companies with Industry-Friendly policies and investor-promoting ecosystem, he said, "This Government believes in taking a holistic approach. Our policies are based on extensive and comprehensive stakeholder consultation which provide the basis for comprehensive, long-term and vibrant policy ecosystem".

Simultaneously, he added, "We need to move ahead with the Pharma Industry being at the forefront in taking lead and proposing their own models and initiatives in expanding manufacturing capacity, invest in innovative technologies and focus on research and development."

"The government will strengthen the sector through streamlining policies and effective schemes such as the PLI which support cutting edge research."

Apart from the policy front, Mandaviya also focused on the investments in research and development and efficient manufacturing capacities along with creating ample opportunities for innovation that is the need of the hour now.

He was hopeful that through these steps we will be able to create a vibrant ecosystem for this sector. (ANI)