India's Pharma Sector Set to Grow with Academia partnerships, says PM Modi

Prime Minister Narendra Modi stated that the pharmaceutical business in India is poised for significant expansion, with its valuation anticipated to increase from ?4 lakh crore to ?10 lakh crore due to improved collaboration between the private sector and academia. He underlined the government's dedication to ensuring that healthcare is accessible and inexpensive while speaking at a post-budget webcast on health and medical research.

“At present, the Ayushman Bharat and Jan Aushadhi schemes have saved more than ?1 lakh crore for patients from the poor and middle classes, and the PM-Ayushman Bharat Health Infrastructure Mission is not only giving rise to new hospitals but is also creating a new and complete health ecosystem,” Mr. Modi stated.

Highlighting India’s push for self-reliance in healthcare, he said, “Life-saving equipment like medicines, vaccines and medical devices were weaponised when the pandemic was at its peak. That is why we have put forward a vision before the world: One Earth, One Health.”

The government has built 157 nursing schools and more than 260 new medical colleges in recent years in an effort to meet the demands of the domestic and international healthcare markets. Mr. Modi also mentioned how new technology, such as drones, are revolutionizing the way medications are delivered and creating new business opportunities for healthcare entrepreneurs.