A self-reliant pharma industry
The pharmaceuticals industry is a key sector for the Atmanirbhar Bharat programme. Schemes need to be modified in order to make the sector attractive for the investors.
India’s Pharma Industry
- India is the largest provider of generic drugs globally. Indian pharmaceutical sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK.
- Globally, India ranks 3rd in terms of pharmaceutical production by volume and 14th by value.
- The domestic pharmaceutical industry includes a network of 3,000 drug companies and ~10,500 manufacturing units.
- India enjoys an important position in the global pharmaceuticals sector.
- The country also has a large pool of scientists and engineers with a potential to steer the industry ahead to greater heights.
- Presently, over 80% of the antiretroviral drugs used globally to combat AIDS (Acquired Immune Deficiency Syndrome) are supplied by Indian pharmaceutical firms.