Pharma industry urged to identify areas for investments
The Prime Minister Narendra Modi has called on private sector and academia to coordinate and help grow the Indian pharma market to beyond Rs.10 lakh crore from the current Rs.4 lakh crore.
Modi has urged the pharma industry to identify important areas for investments, adding that the Government has taken several steps to further research in the sector.
Addressing a Post Budget Webinar on ‘Health and Medical Research’, he highlighted the world’s growing confidence in the Indian pharma sector.
The Prime Minister emphasized the need to capitalize on this and work towards protecting this image.
He informed webinar delegates that a new programme is being launched to boost research and innovation in the pharma sector through centres of excellence which will strengthen the economy as well as create new opportunities for employment.
The Prime Minister also highlighted the role of technology in constantly making medical services accessible and affordable and elaborated on the government’s focus on the implementation of technology in the sector.
“We want to give timely healthcare to the citizens through the facility of Digital Health ID.
Ten crore people have already benefited by teleconsultation through schemes like ‘e-Sanjivini’, he said, adding that 5G is creating new opportunities in this sector for startups.
Drones are bringing revolutionary changes in medicine delivery and testing services.
“This is a great opportunity for the entrepreneurs and will give a push to our efforts for universal healthcare,” he said, exhorting the entrepreneurs to avoid the import of any technology.
He mentioned bulk drug parks, medical device parks and allocation of more than Rs.30 thousand crores on PLI schemes, given that the medical devices industry has grown 12-14% in the last few years. This market is reaching Rs.4 lakh crore in coming years.
The Prime Minister also said that India has started work on skilled manpower for future medical technology and high-end manufacturing and research. He said, in institutions like IIT, courses like biomedical engineering will be run. fiinews.com
