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Govt. sees pharma sector at $100 billion by 2025

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D V Sadananda Gowda at FICCI summit

DTMT Network
AHEMDABAD:
The government is targeting the country's pharma industry to reach $100 billion by 2025, as it works to develop India into a world-class pharma manufacturing hub, said Union Minister of Chemicals and Fertilizers, D V Sadananda Gowda.

Speaking at a FICCI event in Ahemadabad, Mr Gowda said, “The Indian pharmaceuticals and medical devices sector has the potential to become the world leader and government will provide all necessary support.”

The minister stated, “India today is a major hub for medical devices and diagnostics. There has to be certain interventions by the government as far as polices are concerned.”

“In developing countries where a large section of the population is poor and out of pocket expenses are very high, affordability of the medicines is one of the prime concerns of the society,” he added.

Mr Gowda emphasized that government is making all efforts to boost the Indian pharma and medical devices sector.

He said, “In countries where R&D are taken care of, where academia and industry collaborate in order to build a strong R&D eco-system. In India, we need to follow this. Government has initiated various steps for strengthening the Indian pharma and medical devices sector," he added.

Gujarat Chief Minister Vijay Rupani said that the state government is planning to come up with two dedicated parks, one for bulk drugs manufacturing and other for medical devices.


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