Sadananda Gowda:By 2030 Indian pharma market is expected to grow to US$ 130 billion
New Delhi, Feb 8 (HS): Union Minister for Chemicals and Fertilizers, D V Sadananda Gowda and Minister of State for Chemicals and Fertilizers Mansukh Mandaviya Monday addressed the curtain raiser Press Conference on the 6th Edition of ‘India Pharma & India Medical Device 2021’.
The Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, jointly with FICCI & Invest India is organizing the 6th edition of annual program on Pharmaceuticals & Medical Device sector – ‘India Pharma & India Medical Device 2021’ scheduled on 25-26 February & 1-2 March 2021.
Briefing the media, Gowda said, “Healthcare continues to be an integral part of the Government’s priorities with emphasis on medicines at affordable rates, increasing the accessibility to diagnosis and treatment, boost local manufacturing of medical equipment and encouraging innovation to further reduce the cost of healthcare. The government through its various policies and schemes is encouraging the manufacturing of affordable medical devices and pharmaceutical under its ‘Make in India’ initiative. The India Pharma 2021 & India Medical Device 2021 will lay the groundwork for the next wave of development.”
He added, India is a leading exporter of affordable generics and a major hub for medical devices and diagnostics. India has been serving more than 200+ countries and territories with its Pharma products and will continue to discharge its responsibilities. We intend to continue formulating plans that are based on sound science, technology, business sense, and ethics. We continue to strive to increase the ease of doing business in India for which several measures have already been announced and continue to support domestic manufacturing through measures such as the Rs 400 cr impetus given for the creation of 4 world-class medical device parks, or the Rs 3000 Cr allocated for the creation of 3 major bulk drug parks. We are talking about two very high potential sectors of India in this event. The total market size of the Indian Pharma Industry is expected to reach the US $ 130 Billion by 2030. The medical devices industry in India has the potential to reach $ 50 bn by 2025.
