India’s emergence as a hub for affordable, high-quality medicines is truly commendable: Union Minister of State (Independent Charge) Science & Technolog Dr. Jitendra Singh

The "Make in India" initiative is pivotal in reducing reliance on imported Active Pharmaceutical Ingredients (APIs) by enhancing domestic manufacturing. This effort bolsters self-reliance and ensures that critical healthcare supplies are readily available, as Union Minister of State (Independent Charge) for Science and Technology Dr. Jitendra Singh highlighted at the 6th CII Pharma & Life Sciences Summit 2024. He noted that India ranks 3rd in pharmaceutical production by volume and 14th by value, with a significant shift toward developing biopharmaceuticals and biosimilars. He emphasized the need for India to lead the next industrial revolution in the biotech sector under Prime Minister Mr. Narendra Modi's vision.

He also mentioned that every third tablet consumed globally is produced in India, with a spurious drug incidence of just 0.0245%, according to a CDSCO survey. Improving the infrastructure for transporting pharmaceuticals across diverse climatic regions is essential to maintain efficacy. With India producing 65% of the world's vaccines, the country significantly impacts health outcomes, especially for low- and middle-income nations. India’s bioeconomy has grown 13-fold in the last decade, supported by nearly 6,000 bio-startups. Continued investment in R&D and fostering a strong startup ecosystem are crucial, alongside the Anusandhan National Research Foundation (ANRF), which has a budget of US$ 5.96 billion (Rs. 50,000 crore) over 5 years to enhance industry-academia collaborations in key sectors like advanced materials, electric vehicle (EV) mobility, and health technology.

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