By the first week of June, a new Government As far as India’s pharmaceutical industry is concerned, the new government should move quickly as the country stands at a critical juncture where the strategic focus and policy direction will be dependent on its global position and domestic healthcare landscape. can have a significant impact. There are compelling reasons why focusing on the pharmaceutical industry, which is a knowledge-driven and strategic sector, should be a top priority for the new government in its first hundred days.

economic backbone

pharmaceutical sector It is not just another industry but an economic backbone for the country. India has long been known as the ‘Pharmacy of the World’, supplying affordable generic medicines to various markets globally. This reputation is not only a matter of pride but also a significant contributor to the country’s export revenue and employment generation. Therefore, nurturing and growing this sector can yield substantial economic benefits, especially in the post-pandemic recovery phase. Addressing the industry’s concerns will also help keep it on track to reach its target of reaching a size of $130 billion by 2030.

healthcare access and strengthA strong pharmaceutical sector directly translates into better health care access and affordability. By promoting indigenous drug manufacturing, the government can ensure continuous supply of essential medicines at reasonable prices. This becomes even more important in light of recent global disruptions, which have highlighted the vulnerabilities of excessive reliance on external pharmaceutical sources. Over the past few years, India’s pharmaceutical industry has led the way in ensuring access to healthcare with affordable medicines for HIV/AIDS, tuberculosis (TB), cancer and COVID-19.

global competitiveness

The global pharmaceutical market is highly competitive, with emerging economies competing for large shares. India has the advantage of a skilled workforce, established manufacturing infrastructure and a reputation for quality generics. However, sustaining and engaging this competitiveness requires sustained innovation, R&D investment and supportive policies. It would be helpful to the industry if the government prioritized emphasis on innovation which is fundamental to improving patient care, and can boost the growth of the industry and the economy.

health Protection

The COVID-19 pandemic underlined the importance of health security and reliance on KSM/APIs as critical health care supplies. Investing in the pharmaceutical sector’s research capabilities, vaccine production capabilities, and emergency response mechanisms can boost the country’s preparedness for future health crises. This not only protects public health but also enhances India’s resilience in the face of global challenges. It is expected that the new government will present a full budget and increasing investment in healthcare will boost the country’s GDP.

regulatory reform & ease of doing business

Streamlining regulatory processes, ensuring transparency and promoting a conducive business environment remain important aspects to drive growth in the pharmaceutical sector. The new government can bring reforms that will simplify approval processes, encourage innovation and attract investments. Such measures not only make Indian pharmaceutical companies globally competitive but also pave the way for technological advancement and product diversification. Regulatory reforms by the new government will also go a long way in ensuring that India becomes a global leader in clinical trials given the world’s largest population, disease burden and patient diversity. The reforms could also help the industry set global standards for quality standards of medicines and vaccines.

sustainable development goals

Aligning with the UN Sustainable Development Goals (SDGs), especially Goal 3 in good health and well-being, is imperative for India’s development path. A strong pharmaceutical sector plays a vital role in achieving universal health coverage, reducing the burden of disease and promoting health equity. By giving priority to this sector, the government can demonstrate its commitment to these global objectives. Giving top priority to the industry will also be important as the government wants to eliminate tuberculosis in India by 2025, five years ahead of the global target as part of the Sustainable Development Goals. India’s strategic plan for 2017–2025 sets a target of recording no more than 44 new TB cases per lakh population or 65 total cases by 2025. Medicines and drugs made in India will not only continue to play an important role in achieving the SDGs. Country but all over the world.

collaborative partnership

Collaboration between government, industry stakeholders, research institutes and international organizations is the key to unlocking the full potential of the pharmaceutical sector. Public-private partnerships, knowledge-sharing platforms and joint ventures can promote innovation, technology transfer and skill development. Such collaborative efforts can foster a conducive ecosystem for development while ensuring mutual benefits and sustainable progress. Last year, the National Policy on Research & Development and Innovation Pharma Medtech Sector And the Scheme for Promotion of Research and Innovation in Pharma MedTech Sector (PRIP) was launched, which aims to enhance skills and capabilities in education and private sectors and to promote new talent through startups by youth. It will be important for the new government to monitor and build coordination among various government institutions and agencies to ensure its success. The government’s emphasis on innovation will be fundamental in improving patient care and boosting the growth of the industry and consequently the economy.

keep an eye on the supply chain

Building and managing an end-to-end supply chain are critical elements in the pharmaceutical industry. In recent years, various emerging trends such as pricing fluctuations, technological advancements, sustainability initiatives, the move toward personalized and next-generation therapies, and innovative healthcare delivery models have increased the complexity in manufacturing and supply chain operations. These trends act as important drivers, prompting reassessment of priorities and requiring transformational changes in the manufacturing sector. In combination with dynamic industry trends, macroeconomic variables and geopolitical changes, India finds itself at the vanguard of a ‘China+1’ opportunity. The new government will come up with strategies to take advantage of this advantage that can boost the pharmaceutical industry, and consequently boost the economy.

The incoming government has a unique opportunity to rapidly uplift the pharmaceutical sector of the country. By prioritizing this sector initially, policy makers can move forward Economic Development, improving health care access, implementing regulatory reforms, promoting global competitiveness, ensuring health security, advancing the SDGs, and fostering partnerships. These efforts not only benefit the industry but also contribute significantly to India’s socio-economic development and global healthcare leadership. Cooperating with the government and regulatory bodies, the industry aims for a growth rate of 11-12 per cent. India is set to remain a global pharmacy hub and potentially become the largest producer by volume worldwide, underscoring its strategic importance. And hence, it becomes important to promote collaborative initiatives at this critical moment.

This article is written by Arkaja Goswami, Department of Chemistry, University of Delhi

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