NEW DELHI: Union minister of chemicals and fertilizers Dr Mansukh Mandaviya on Saturday, May 27, said that Indian pharmaceutical companies must maintain a degree of competitiveness to catalyse growth.
Dr Mandaviya chaired a roundtable meeting with the leading CEOs of the pharmaceutical industry on the second day of the 8th International Conference on Pharma and the Medical Device Sector. Over 60 companies represented by senior leadership, with several key players having a presence in the national as well as international markets, participated.
“To catalyse growth, we must maintain a degree of competitiveness to consolidate our presence in the world,” Dr Mandaviya said. “To maintain our stature as the ‘Pharmacy of the World’, we need to focus on quality and affordable manufacturing with an increased focus on research and innovation,” Dr Mandaviya, who is also Union Health minister, added.
Opportunities for collaboration with the government have also been put forth at the conference. “For the government’s support, stakeholders have been asked to put forth their suggestions addressing the aspects of pricing, regulatory, policy and strategy, with the respective action points in a detailed presentation and due consideration will be given to facilitate further policy support and growth,” an official told The New Indian.
“Stakeholders have been requested to capitalise on the current opportunities as substantial investment in terms of production-linked incentive (PLI) schemes as well as upcoming drug parks is bearing fruitful results,” he said.
Underscoring the potential future growth of the industry, S Aparna, secretary, of the Department of Pharmaceuticals, urged the attending representatives to collate and collectively represent their perspectives adhering to the aforementioned four categories to facilitate policymakers and government in fostering a stronger ecosystem for all.