Union Minister Dr. Jitendra Singh on Saturday said that India is steadily evolving into a robust pharmaceutical economy, which could become a significant contributor to the country’s overall GDP.
Addressing a ‘Healthcare Summit’ here, the minister stated that the nation’s pharmaceutical, medtech, and manufacturing ecosystem is positioning India as a key global manufacturing hub—particularly in high-quality, affordable healthcare solutions.
He noted that the discussions revolved around two central themes: “Made in India” and “Quality.”
The sector is undergoing a major shift, with a strong focus on global quality benchmarks, indigenous innovation, and the integration of research with industry.
Over the last 10 years, India has witnessed a transformation in healthcare, moving from a largely import-dependent system to one driven by indigenous capabilities, the minister said.
He recalled that previously, critical medical devices, implants, and even advanced drugs were largely sourced from abroad, making treatment expensive and inaccessible for many.
“Today, India is developing its own antibiotics, vaccines, and advanced therapies, marking a decisive shift towards self-reliance,” he highlighted.
Regarding the COVID-19 pandemic, the minister said India not only developed indigenous vaccines but also supplied them globally, reinforcing its role as a reliable healthcare partner.
On quality standards, Singh emphasized that “homegrown” products now meet global benchmarks. “Indigenous medical devices such as stents, ventilators, and diagnostic equipment are increasingly ensuring safety, efficacy, and affordability,” he said.
The minister also highlighted policy initiatives such as the Promotion of Research and Innovation in Pharma-MedTech (PRIP) scheme, with an outlay of Rs 5,000 crore, aimed at shifting India from low-cost manufacturing to high-value innovation.
According to Singh, India currently accounts for around 1.5 per cent of the global medical devices market. He added that the government is working to significantly expand this share under the National Medical Device Policy 2023.
–IANS
