The “Make in India” initiative is playing a pivotal role in reducing our dependency on imported Active Pharmaceutical Ingredients (APIs). By strengthening our domestic manufacturing, we are not only bolstering self-reliance but also ensuring critical healthcare supplies are readily available.This was stated by Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, DrJitendra Singh.
He was speaking at the 6th CII Pharma & Life Sciences Summit: 2024 here today. The Minister said, “This forum is a vital platform for the exchange of ideas among industry leaders, government officials, and academia, and exemplifies India’s determination to lead in the global pharmaceutical and biotech arenas.”
Appreciating the pharma industry, he said, “India’s emergence as a hub for affordable, high-quality medicines is truly commendable. We now rank 3rd in pharmaceutical production by volume and 14th by value.” One of the most remarkable shifts within the industry has been the transition from a generic-focused model to the development of biopharmaceuticals and biosimilars, he added.
Speaking about next industrial revolution, the Minister said, it will come in biotech sector.Prime Minister Shri Narendra Modi wants us to lead it.” Thanks to initiatives like the PLI scheme, India is well on its way to becoming a global leader in biopharmaceuticals, bio-manufacturing, and life sciences by 2030. However, there is still much to be achieved. I congratulate CII and the life sciences industry on your success, but we must not lose sight of the immense opportunities ahead, he added.
