Home >  News >  Industry >  Pharma News >  Indian pharma sector...

Indian pharma sector expected to grow at rapid pace: PM Modi

Citing the example of the pharmaceutical industry, the prime minister said the sector worth Rs four lakh crore at present is expected to grow to Rs 10 lakh crore by 2030.;

By - Ruchika Sharma
Published On 2023-08-28 10:00 GMT   |   Update On 2023-08-29 05:36 GMT
Advertisement

New Delhi: Prime Minister Narendra Modi on Monday said the Indian economy was on the path of rapid growth which had led to creating big opportunities for employment of the youth. Addressing a Rozgar Mela where he distributed over 51,000 appointment letters to the youth, mostly in the security forces, the prime minister said automobile, pharma, tourism and food processing sectors were expected to grow at a rapid pace and open up employment opportunities for the youth.

Advertisement
He said the tourism sector alone was expected to contribute Rs 20 lakh crore to the economy by 2030 and had the potential to create 13-14 crore new jobs.
The prime minister said India was set to emerge among the top three economies in the world in this decade and bring benefits to the common man.
"Every sector has to develop. From food to pharmaceuticals, from space to startups. When every sector will progress the economy will grow," he said.
Citing the example of the pharmaceutical industry, the prime minister said the sector worth Rs four lakh crore at present is expected to grow to Rs 10 lakh crore by 2030.
""What does it mean. It means that in this decade the pharma industry will need a lot of youth. There will be opportunities for employment," Modi said.
He said the automobile sector too was on the growth path and will require youth power to propel it.
"There will be immense employment opportunities," the prime minister said.
Citing the example of Uttar Pradesh, he said good governance in the state has led to establishment of the rule of law, which has in turn brought in a lot of investments.
"In an atmosphere of security, the establishment of the rule of the law speeds up development, instills confidence in the people and brings in investments," he said.
However, the states with rising crime rates witnesses fewer investments and shrinking of employment opportunities, Modi said.
Tags:    
Article Source : PTI

Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.

NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

Comments Policy
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .

Similar News

Harsh V Trehan named CHRO, Executive Vice President at GSK India

42 dead, 8 still missing in Sigachi pharma plant explosion

Akums Drugs and Pharma: Jitendra Mishra steps down as Senior Vice President - IT

Biocon Biologics gets marketing nods in UK for Vevzuo, Evfraxy

Indian pharma exports strong at USD 4.9 billion in April-May: Pharmexcil

Expert Panel Approves Post-Marketing Surveillance Study of Eculizumab (Soliris) by AstraZeneca in India

Emcure Pharma incorporates new wholly-owned subsidiary Emcure Wellness

JnJ seeks indication extension of Akeega from EMA for adults with metastatic hormone-sensitive prostate cancer, HRR gene alterations