"Our policy interventions are being made based on wide consultations with all stakeholders". Speaking at inaugurating the first global innovation summit of the pharmaceutical sector, Modi said India's vision is to create an eco-system for innovation that will make the country a leader in drug discovery and innovative medical devices.
With the Indian export of Covid vaccines, reaching over the 65 million marker to more than 100 countries, Prime Minister Narendra Modi said on Thursday, that the global trust earned by the Indian healthcare sector once again reaffirms India's status as the “pharmacy of the world”
Employing nearly three million people and with a trade surplus of USD 13 billion, the pharma sector is a key driver of India's economic growth. "Today, when 1.3 billion people of India have taken it upon themselves to make India 'Aatmanirbhar', we must think about ramping up domestic manufacturing of key ingredients for vaccines and medicines, and this is one frontier that India has to conquer", the prime minister, said in the inaugural summit. He further noted that whether it is lifestyle, or medicines, or medical technology, or vaccines, every aspect of healthcare has received global attention over the last two years.
In this context, the Indian pharmaceutical industry has also risen to the challenge. The global trust earned by the Indian healthcare sector has led to India being called the “pharmacy of the world” in recent times, Modi said. "We exported lifesaving medicines and medical equipment to over 150 countries during the initial phase of the pandemic, along with exporting more than 65 million doses of Covid vaccines to nearly 100 countries this year," the Prime Minister said, adding that India will do much more as it ramps up its capacity.
He, further asserted that India's definition of well-ness is not limited by physical boundaries and it believes in the well-being of the entire humankind. "And, we have shown this spirit to the whole world during the COVID-19 global pandemic. India's healthcare sector, attracted foreign direct investment (FDI) of over USD 12 billion since 2014 and there is potential for much more".
The two-day summit will have 12 sessions and over 40 national and international speakers deliberating on a range of subjects, including regulatory environment, funding for innovation, industry-academia collaboration and innovation infrastructure, according to the Prime Minister's Office (PMO)
With PTI Inputs