Govt. of India has allocated $4 billion to the support of the pharmaceutical and medical sectors
New Delhi: The Indian Life Sciences industry is paving the way for future growth in terms of meeting the domestic needs, as well as establishing the nation as a leader in the global life sciences landscape. There are still several challenges that need to be addressed and it is of fundamental importance to re-strategize the restoration of India’s position in the pharmaceutical and biotechnology landscape.
Against this backdrop, CII organized the third edition of Life Sciences Conclave that provides the necessary platform for stakeholders across the world to converge and embed their ideas to help usher in a new era of competitiveness of the Indian Life Sciences segment to lead global markets.
At the Valedictory Session, Ms S Aparna Secretary, Department of Pharmaceuticals said, “ In the last 5-10 years India has become a favored destination for pharma companies. There is a global move towards the greater diversification. There are markets that are going towards stock piling of essential medicines. On the tech front we have seen the innovation and re-purposing of the drugs. The dedicated project development cell work closely with the investors. An amount of $4 billion has been made available by the Govt. of India to support the pharmaceutical and medical sectors. The capacity and infrastructure over the time needs to be built. We want to incentivize the industry to move it out of the traditional zone. Efficiency will be driven by scale and technology.”
Dr Gagandeep Kang, Professor, Department of Gastrointestinal Sciences, Christian Medical College, Vellore said, “ The Indian vaccine industry has a long way to go but at the same time has been exceptionally phenomenal. We should use this as a lesson for future as we need strong regulators to show what is required .”
“We at CII has an important focus towards the Life Sciences Sector. To improve Market Access and the Industrialization of the Industry; To address Regulatory issues at the national and state level The response and the attention of the Ministry gives us a lot of confidence. We hope to revamp and scale up our innovation workspace in biotechnology and pharmaceutical sector.” Mr Chandrajit Banerjee, Director General, CII.
Mr Deepak Sapra, Member CII Pharma Committee and CEO Active Pharmaceutical Ingredients and Services Business Dr Reddy’s Laboratories said, “ The Indian Industry over the last decade has done a great job by bringing generics to the world. Access to remote healthcare has minimised. The nature of doctor patient relationship is changing significantly in present times. The pace of innovation will increase in India. The intersection of healthcare and technology coupled with the intersection of chemistry and biology in the pharmaceutical industry is the future.”
Dr Rajesh Jain Chairman, CII National Committee on Biotechnology and Managing Director Panacea Biotec Ltd. Said, “ The GoI has leveraged a massive immunisation drive with the use of IT as its backbone during the pandemic. The chemical revolution is over and the biological revolution has begun.”
The next plan of the sector is to transform from cost competitiveness to cost leadership through Aatmanirbhar and build indigenous capability, IPR reformations and the reformation of regulatory process to reduce time and cost. The last point of action is to level the playing field through reinstating image of Indian made pharmaceuticals and development of capabilities to seek global partnerships.