Policy | April 14, 2021
Pharma PLI to increase exports
Indian government is expecting pharmaceutical industry to fetch incremental sales worth Rs. 294,000 crore and exports up to Rs. 196,000 crore by FY 2027-28
Indian government is expecting pharmaceutical industry to fetch incremental sales worth Rs. 294,000 crore and exports up to Rs. 196,000 crore by FY 2027-28
India produces 60% of the world’s vaccine
Besides powering the drug discovery efforts, phytopharmaceuticals have a huge potential to create a niche market for itself, thereby helping to expand the bio-economy.
The next phase of growth in pharma depends on the industry-oriented workforce, risk investment, academic revamp, and creation of R&D hubs, say experts .
The Indian pharma industry has grown at a compounded growth rate of ~11% in the domestic market and ~16% in exports over the last two decades
A mix of favorable government policies and a positive environment will create a win-win situation for all stakeholders
The Govt. launched the PLI scheme for bulk drugs with a financial outlay of Rs 6,940 crores across 53 APIs over 6 years.
The resilient attitude of Indian pharmaceutical companies coupled with quick innovative solutions has ensured consistency in supply chains amid unprecedented challenges
While top industry leaders are optimistic about the growth, they expect the special incentives and regulatory streamlining from the government’s side
Jubilant announced the completion of demerger of pharma and LSI business into two separate companies
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