Union Minister of Commerce and Industry Piyush Goyal urged global investors and industry leaders to seize the opportunities India presents in the backdrop of measures the Centre has initiated over the last decade to bolster socio economic development, industrial growth and infrastructure.
Mr. Goyal, who virtually addressed Life Sciences conference BioAsia, said this particularly in the context of the pharmaceutical and associated industries. Highlighting how India is committed to collaborating with international stakeholders to address a range of global healthcare challenges, from pandemic to digital solutions, he said the country offers unmatched talent, cost advantages and a thriving innovation ecosystem.
A significant transition is taking place in the Life Sciences sector in the country, from volume to value with a sharp focus on innovation, research and development and higher value biopharma. Contributing to the shift are initiatives such as the production linked incentive (PLI) schemes for pharma and medical devices of the Centre.
“India is poised to lead the next big wave of healthcare manufacturing. Let us work hand in hand to drive innovation, expand healthcare from this and make cutting edge medical solutions accessible to all,” the Union Minister told the gathering at the conference that concluded on Wednesday.
Under Prime Minister Narendra Modi, the country is pioneering innovations, fostering cross-border collaborations and accelerating adoption of cutting edge technologies to revolutionalize healthcare delivery world while consolidating on its image as the pharmacy of the world and supplying affordable generics to over 200 countries.
Catalyst of change
Congratulating the Telangana government for its ‘unwavering commitment to advancing India’s Life Sciences sector’, he said the State has established itself as a leading healthcare hub and hosts India’s largest pharma clusters and biotech research centres. These have been a catalyst of change expanding global healthcare frontiers and in the process ‘perfectly capturing India’s evolving role’.
People of the State are set to benefit from the transformational reforms and projects of the Centre such as the Kakatiya Mega Textile Park in Warangal, Industrial Node in Zaheerabad and AIIMS in Bibi Nagar, whose foundation stone was laid recently. The Centre has constructed 2,605 km of national highways since 2014 and is developing four greenfield corridors under the Bharat Mala project, Mr. Goyal said, adding he had recently inaugurated the National Turmeric Board in Nizamabad.
