New Delhi, March 22: Union Minister Dr. Jitendra Singh stated on Saturday that India is rapidly emerging as a robust pharmaceutical economy, significantly contributing to the nation’s GDP.
Speaking at the ‘Healthcare Summit’ held in the national capital, the minister emphasized that India’s pharmaceutical, medtech, and manufacturing ecosystem is positioning the country as a major global manufacturing center, especially in the realm of affordable and high-quality healthcare services.
He highlighted two main topics of discussion in this sector: ‘Made in India’ and ‘Quality.’ The industry is evolving quickly, focusing on global quality standards, indigenous innovations, and linking research with industry.
Dr. Singh noted that there has been a significant transformation in India’s healthcare sector over the past decade. The country was heavily reliant on imports, but it is now advancing based on domestic capabilities.
He recalled that essential medical devices, implants, and even advanced medicines were previously imported in large quantities, making treatment expensive and often inaccessible to the general public.
Now, India is developing its own antibiotics, vaccines, and advanced treatment technologies, marking a significant shift towards self-reliance.
Referring to the COVID-19 pandemic, he mentioned that India not only developed its vaccines but also supplied them globally, enhancing the country’s image as a reliable healthcare partner.
In terms of quality, India has made strides. Medical devices manufactured in the country, such as stents, ventilators, and diagnostic equipment, now meet global standards and are safe, effective, and affordable.
The minister also announced the launch of the PRIIP scheme to promote research and innovation in the pharma and medtech sectors, with a budget allocation of ₹5,000 crores. This initiative aims to transition India from low-cost production to high-value innovation.
Currently, India’s share in the global medical device market is approximately 1.5%, but the government is actively working to increase this under the ‘National Medical Device Policy 2023.’
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My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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