Prime Minister Narendra Modi inaugurated the first Global Innovation Summit of the Pharmaceuticals sector .
Modi said that the pandemic brought the pharmaceutical sector into sharp focus. He added the Indian pharmaceutical industry has risen to the challenge of the pandemic as the focus turned on every aspect of healthcare over the last two years.
“The global trust earned by the Indian healthcare sector has led to India being called the “pharmacy of the world” in recent times”, PM Modi said.
“The combination of high quality and quantity at affordable prices has generated immense interest in the Indian pharma sector around the world. Since 2014, the Indian healthcare sector has attracted over $12 billion in FDI,” he further added.
He further elaborated that India exported lifesaving medicines and medical equipment to over 150 countries during the initial phase of the pandemic. India exported more than 65 million doses of Covid vaccines to nearly 100 countries this year, he added.
The Prime Minister envisioned creating an ecosystem for innovation that will make India a leader in drug discovery and innovative medical devices. He said policy interventions are being made based on wide consultation with all stakeholders.
Modi also noted that India has a large pool of scientists and technologists with a potential to take the industry to greater heights. “This strength needs to be harnessed to “Discover and Make in India”, he added.
The Prime Minister stressed on developing indigenous capabilities. “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. This is one frontier that India has to conquer”, he urged.
The Prime Minister invited the stakeholders to Ideate in India, Innovate in India, Make in India and Make for the World.
