If India wants to continue being the pharmacy of the world there can be no laxity on the quality of pharmaceutical products, said Health Minister Mansukh Mandaviya speaking at the 8th international conference on the pharma and medical device sector on Friday.
He added that India’s products should be affordable and competitive in the global market. The Minister said that India’s pharmaceutical sector will be contributing more in the coming years to domestic needs and will also continue to cater to global demand.
“Our competitive advantage over other nations is price competitiveness and quality. India’s pharmaceutical industry is robust, resilient, and responsive. Because of these qualities we not only met our domestic demand during the pandemic, but were also able to supply medicines to 150 countries,’‘ he said.
The two-day conference organized by the Department of Pharmaceuticals in association with Federation of Indian Chambers of Commerce and Industry (FICCI) is aimed at promoting India as a manufacturing hub of quality medical products in the pharmaceutical and Medical Device Sector.
The Health Minister also unveiled the National Medical Devices Policy, 2023, and launched the Export Promotion Council for Medical Devices. Additionally, the Union Minister launched a scheme ‘Assistance for Medical Devices clusters for Common Facilities (AMD-CF)’ which aims to establish and strengthen common infrastructure facilities in the medical devices clusters and fortify testing facilities for medical devices.
Stating that the Government is committed to supporting the sector with industry friendly policies and an investor promoting ecosystem, the Health Minister said that “the government advocates a holistic approach for growth taking into account deep stakeholder consultations enabling a comprehensive, long -term policy ecosystem.”
Dr. Mandaviya also focused on investments in research and development, building up of efficient manufacturing capacities along with the creation of ample opportunities for innovation.
Following the inaugural session, a CEO roundtable was chaired by Dr. Mandaviya which deliberated on the existing issues as well as avenues for growth in the national and international arena.