By Admin 
After the tariff bomb of US President Donald Trump, if any industry in the country was facing the greatest threat, it is the pharma sector. Have you ever wondered which medicines are manufactured the most by the Indian pharma industry, which meets about 80% of the medicine consumption in America? Apart from this, what planning is going on in this sector for your health? Let us know.
This is the government’s planning
According to Dr. R. Chandrashekhar, Joint Medicine Controller of the Central Drugs Standards Control Organization, special emphasis is currently being laid on Research and Development (R&D) in the Indian pharma industry. Its objective is to manufacture generic medicines as well as develop new medicines and technology. Under this, the Government of India has started a big scheme called Promotion of Research and Innovation in Pharma-MedTech Sector (PRIP), on which about Rs 5,000 crore will be spent. Under this scheme, private sector companies, startups and MSMEs are being given financial help for research.
He told in the 18th CPHI and PIMEC India Expo organized at the Expo Center in Greater Noida that the new hospital finance scheme of Rs 1 lakh crore will strengthen research and development in the pharma sector of the country. He said that at present India is called the pharmacy of the world, but with the Hospital Finance Scheme, the country will move towards developing from the pharmacy of the world to an innovation-led pharma nation in the next five years.
Which medicines does the pharma industry make?
Namit Joshi, chairman of the Pharmaceuticals Export Promotion Council of India, said that India’s pharma industry is currently known as ‘Generics Hub’ all over the world. Now the global pharmaceutical field is changing rapidly. In such a situation, to remain the pharmacy of the world, India will have to move ahead from its traditional generics mentality and focus on value based innovation. Besides, our capabilities will have to be increased in peptides, complex generics, biosimilars, biologics and cell and gene therapies.
India is becoming self-reliant in pharma sector also
According to Yogesh Mudras, MD of Informa Markets in India, India’s pharmaceutical sector has shown great growth. Due to this, exports have doubled to 30 billion US dollars. This is changing rapidly as India is strengthening its hold in traditional generics, complex formulations, biologics and advanced treatments.
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Disclaimer: This information is based on research studies and expert opinion. Do not consider this as a substitute for medical advice. Before adopting any new activity or exercise, please consult your doctor or relevant specialist.
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