New Delhi, Nov 23 (Agency) The Narendra Modi government is proactively looking to provide industrial parks with facilities to grow active pharmaceutical ingredients, pharmaceutical and nutraceutical industry. The move is aimed at helping the pharma industry to continue playing a prominent role as the “pharmacy of the world,” says Chemicals Minister DV Sadananda Gowda. This follows developments, such as plant closures in China due to the Covid-19 pandemic earlier in the year and the more recent border standoff with China, which underlines supply-disruption risks due to over dependence on imports.
India is one of the world’s leading suppliers of drugs — mostly generic formulations — but depends on imports for its requirement of APIs and KSMs (key starting materials) , particularly China, which accounted for more than 60 per cent of requirements in some therapy areas.
The country’s API industry is estimated to be Rs.798 billion in 2020 and is expected to hit Rs1,307 billion by 2026. Also, the country is gearing up for innovation in its pharma ecosystem focusing on speedy and scaled-up delivery of new vaccines and personalised medicines. “We are also encouraging innovation in pharmaceuticals and medical devices. R and D funds and other facilitator programs are focus of the Modi government and this is helping improve pharmaceutical offerings,” the minister said taking part in an international webinar on Sunday. “We are also sensitive to grievances of pharmacists. We are committed to improve the lot of pharmacists,” Gowda added. The government has announced incentives to boost domestic manufacturing of APIs and KSMs to improve backward integration over the next few years and curtail supply-chain disruption risk for drug makers.
In another virtual event during the day, Health Minister Harshvardhan invited knowledge and technology experts and inventors to come to India, join hands with the country’s scientists and experts, and create a great collaborative platform to heal people around the globe. He was addressing the Boston Center of of Excellence for Health and Human Development.