India is world-class cost-effective healthcare destination and global pharma leader: Jitin Prasada, ET HealthWorld

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India is world-class cost-effective healthcare destination and global pharma leader: Jitin Prasada, ET HealthWorld

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New Delhi: Union Minister of State for Commerce & Industry Jitin Prasada highlighted India’s emergence as a premier, cost-effective healthcare destination and a global leader in pharmaceuticals.

According to the Ministry of Commerce and Industry, speaking at the inauguration of the three-day International Pharma and Healthcare Exhibition (IPHEX 2024) organised by the Pharma Export Promotion Council of India (CAPEXIL) and the Ministry of Commerce and Industry in Greater Noida, Uttar Pradesh, Prasada called on the Indian pharmaceutical sector to aim to become the global healthcare steward.

He urged the pharma industry to increase exports and seize emerging opportunities for growth. Prasada said that India is already recognised as the ‘pharmacy of the world’.

It’s extremely important that we focus not only on our strengths in the generic sector but also ensure our backward and forward linkages, the Minister added. He further noted that it’s important that we try product development and break new ground.

The Minister urged the industry to focus on innovation, and quality and work with the world market. “International competitiveness will be very important. It is important to keep abreast of new developments and good manufacturing practices,” he said.

He also noted that the Government has come up with many schemes like the PLI for APIs and for medical devices.

Prasada said, “The three-day pharma expo IPHEX will offer the domestic industry majors from India and all across the world a great platform to connect and do business. It will provide you with an opportunity to meet new and existing customers actively looking for new suppliers, or looking to assess the current progress of existing projects.”

• Published On Aug 29, 2024 at 04:00 PM IST

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