Every third tablet consumed globally is made in India, Union Minister of State for science and technology, Dr Jitendra Singh said here Wednesday at the CII Pharma & Life Sciences Summit.
“India’s emergence as a hub for affordable, high-quality medicines is truly commendable. We now rank third in pharmaceutical production by volume and 14th by value’’, he added.
A recent Central Drugs Standard Control Organization (CDSCO) survey across 48,000 drug samples from all states revealed a spurious drug incidence of just 0.0245%. However, as goods travel across diverse climatic regions, improving the infrastructure and efficiency of transporting pharmaceutical products is vital to ensuring their efficacy.
The Minister said the next industrial revolution will be driven by the biotech sector. “Prime Minister Narendra Modi wants us to lead it. Thanks to initiatives like the PLI (Production Linked Incentive) scheme, India is well on its way to becoming a global leader in biopharmaceuticals, bio-manufacturing, and life sciences by 2030’’, Singh added.
India’s bioeconomy has expanded 13-fold in over 10 years, thanks to the thriving ecosystem of nearly 6,000 bio-startups. To sustain this momentum, industry must continue to invest in R&D, support young entrepreneurs, and foster a robust startup ecosystem. The Anusandhan National Research Foundation (ANRF), with a budget of Rs 50,000 crore over five years, marks a transformative step in building a knowledge-driven society. By addressing the infrastructure gap in universities, the ANRF will stimulate industry-academia collaborations, particularly in sectors like advanced materials, EV mobility, and health technology, he stated.