India recognized as largest pharmaceutical plant

15 June 2020

Union Minister Shri Piyush Goyal communicated with the leaders of the pharmaceutical industry and the organizers of the industry through a video conference. Pharmaceuticals and Health Department officials attended the meeting. The minister said India was recognized as the ‘world’s largest pharmaceutical plant’. Over 120 countries have supplied essential medicines in the last two months. Of those, over 40 countries gave away free of charge. 

Minister assured that the Government will provide all possible assistance for the development, diversification, and empowerment of the pharmaceutical industry. For the sector in the Atmanabhar Bharat Project, there is an important role to play.

The government has taken several measures, such as the promotion of drug parks. Drug-related deduction measures have been approved to promote the domestic production of the initial substance and Active Pharmaceutical Ingredients (API) of the drug.

The Union Minister said anti-dumping has accelerated the investigation process. Entrepreneurs should focus on areas where market potential is most likely, such as Eastern Europe and Russia. Mr Piyush Goyal called on academics, universities, ICMR and the private sector to collaborate on R&D. Mr Piyush Goyal said that the proposals submitted at the meeting would be reviewed and that action would be taken as soon as necessary in consultation with other departments.