Govt allocates over Rs 10,000 crores in PLI scheme for bulk drugs, medical devices to fulfill vision of Aatmanirbhar Bharat

Highlighting the Ease-of-Doing business within the sector, Mr Gowda added, "Pharma Bureau established in the Department of Pharma has started actively engaging with industry, handholding the investors & taking up the pending issue of investors with various govt departments."

Mr Mansukh L Mandaviya, Minister of State for Chemicals and Fertilizers, Government of India, said, "Under the astute leadership of Prime Minister Mr Narendra Modi, India fought a successful battle against COVID-19 globally. With a population of more than 1.3 Bn, India was the most vulnerable to the pandemic given its socio-economic background. However, with the introduction of effective interventions by the Government under the able leadership of Hon'ble Prime Minister, Modi ji, such as the well-planned and timely lockdown & the development of indigenous vaccines, India has undoubtedly emerged as the victor in fighting COVID-19. With the Government's strong grit and fighting spirit of the Indians, India has also emerged as one of the largest manufacturers of PPE kits, masks, ventilators, and testing kits. Where India used to import even testing kits from the outside world in the past decades, it is now self-reliant or "Aatmanirbhar" and is playing a major role in the global supply chain."

Mr Mandaviya further added, "as India continues to strengthen its status as a leading investment destination by continuously improving its Ease of Doing Business through the enactment of several policy measures especially during the COVID-19 pandemic to ensure continuity, I am sure this platform will be instrumental in contributing to India's growth story and to chart out the path of progress of both the industry & the country."

Ms S Aparna, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India said, "The multidisciplinary medical device industry along with the Department of Pharmaceuticals has strived towards the interest of the patient, sustainable growth of the sector, and the goal for affordable and universal healthcare. In close partnership with DPIIT under the Ministry of Commerce and Industry we are happy to acknowledge the PLI scheme for pharmaceuticals with an unpreceded outlay of 15,000 crores. We believe this will be a game changer in transforming our industry."

"We are at a juncture where enhanced cooperation between industry and policy makers will help us to achieve the vision of Atmanirbhar Bharat in its truest sense of making in India and making for the world," Ms Aparna added.

Mr Pankaj Patel, Mentor, FICCI Pharma Committee and Chairman & Managing Director, Zydus Cadila said, "An increase in spending by the government on healthcare and investment is necessary with a policy that is clear and coherent resulting in the sustainability of the industry. Up scaling the people's talent and getting regulatory system on a global level is need of the hour."

Addressing on the medical device industry, Dr Shravan Subramanyam, Co-Chair, Medical Devices Committee, FICCI and President & CEO, GE Healthcare South Asia said, "The 2021 budget has focused on a stronger public healthcare system. It has dedicated Rs. 14000 crores to the pharma & Medtech infrastructure industry over 6 years. To achieve the universal goals and make India self-resilient, the first step is to build mutual trust and develop innovative partnership models and Integrate digital technology and tools which can bring in the needed transparency and accountability. As we move towards becoming a manufacturing hub, exports will increase but at the same time, certain imports will increase too.

Mr Sriram Shrinivasan, Global Generics and National Health and Life sciences Leader, EY, said, "The pandemic has revealed the importance of digital in all walks of life. This fits in well with two sectors that India is strong in — Technology and Pharmaceuticals and the convergence of both these strengths could make India a leader in the Healthcare of tomorrow. We must take upon ourselves a moon-shot target for the pharma industry in India, whereby all stakeholders come together on one platform and take a pledge of commercializing indigenous novel drugs (both biological and chemical). We must build efficiencies across the pharmaceutical value chain, adopt technology, be globally competitive, create newer markets for branded & specialty pharmaceuticals, complex APIs, build to scale differentiated innovative drugs to meet the collective ambition of all stakeholders."

EY-FICCI report titled 'Indian Pharmaceutical Industry 2021: future is now' was also launched during the event.

The opportunities that have emerged to accelerate the growth of Indian pharmaceutical and healthcare industry are - innovation led research and development, healthcare delivery (R&D), manufacturing and supply chain, and market access.

1. Accelerating research and innovation:

 There is a need to move up India's share of trade in value

 To meet this objective, the industry must consider setting up an overarching regulatory body and a central body to streamline research infrastructure and financing from all government bodies, to explore new models for financing R&D to increase private investments and also make available funds for high risk and long-term projects, improve industry-academia collaboration and establish a strong innovation ecosystem.

2. Achieving equitable and sustainable healthcare:

 The increased acceptability of digital technologies has the potential to improve healthcare delivery. This explores the progress towards achievement of universal healthcare access, establishing efficient processes like the use of Aadhar card to identify and simplify the delivery based on healthcare coverage category.

 Enabling teleconsulting and focusing on preventive healthcare are some other areas for consideration with the role of the role of the industry, government, healthcare sector and insurers carved out.

3. Strengthening manufacturing and supply base in domestic and global markets:

 The focus of manufacturing and supply chain initiatives would be to develop capabilities in APIs and enable the manufacturing of complex generics. Ease of doing business is a critical enabler to set up world class manufacturing facilities.

 The attractiveness of the manufacturing sector too needs to be enhanced in order to attract the best talent in India and abroad.

 Given the growth ambitions, it is vital to encourage and setup pharma machine manufacturing facilities in India to lower fixed costs, enable savings in forex and reduce time to set up additional facilities.

 There is also a need to bolster the logistics infrastructure for connecting the key pharma hubs in the country in order to facilitate quick and cost efficient movement of goods including cold chain facilities

4. Improving access to medicines:

 The market access to prescription drugs needs to improve in the country

 Various global best practices in drug pricing and procurement models can be contextualized for developing geographies Digital marketing of pharma products too must be considered

6 th India Pharma and medical device award