India's Pharma and Meditech Exports: Sustaining Growth in a Challenging Global Economy
Policy Insights on Pharma Exports
India's pharmaceutical and meditech sectors are projected to sustain their growth amidst a global economic slowdown, as revealed by high-ranking government officials. The Department of Pharmaceuticals' Secretary Arunish Chawla emphasized the government's commitment to bolstering drug development in the country.
Overview of Export Trends
- Double-digit growth in Indian pharmaceuticals, biotech, and bulk drug exports over the past year demonstrates resilience.
- Currently, pharmaceuticals and meditech exports stand as the fourth largest merchandise export item for the Indian economy.
Looking Ahead: Regulatory Support and Innovations
Chawla noted that various blockbuster molecules are in the pipeline, set to address essential health challenges such as cancer, diabetes, HIV, and tuberculosis. The initiative, backed by the government, leverages the Production-Linked Incentive (PLI) scheme for research and clinical trials of these vital drugs.
- Focus on enhancing drug approvals and manufacturing licenses.
- Expanding the upstream value chain for biological entities.
With support for innovations in cell and gene therapy, India aims to become a leader in the global pharmaceutical landscape. Stakeholders can expect comprehensive developments as the industry continues to evolve.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.