New Delhi: Prime Minister Narendra Modi on Thursday inaugurated the first Global Innovation Summit of the Pharmaceuticals sector.
Speaking at the event, PM Modi said: “The global trust earned by the Indian healthcare sector has led to India being called the Pharmacy of the World”.
“The combination of high quality and quantity at affordable prices has generated immense interest in the Indian pharma sector around the world. Since 2014, the Indian healthcare sector has attracted over USD 12 billion in FDI,” he added, as quoted by news agency ANI.
He also emphasised that India has “exported more than 65 million doses of COVID vaccines to nearly 100 countries this year. Over the coming months, as we ramp up our vaccine production capacities, we will do much more”.
The Prime Minister shared that: “Our vision is to create an ecosystem that will make India a leader in drug discovery and innovation in medical devices. We are sensitive to industry demands on regulatory frameworks and actively working in this direction”.
PM Modi stressed that India must think about ramping up domestic manufacturing of key ingredients for vaccines and medicines. “This is one frontier that India has to conquer,” he said.
“I invite you all to ideate in India, innovate in India, make in India and make for the world. We have the talent, resources, and ecosystem required for innovation and enterprise,” he added.
The virtual summit is also being attended by Union Minister for Health and Family Welfare, Dr. Mansukh Mandaviya.
The initiative aims to bring together key Indian and international players from different walks of life to discuss and strategize priorities to promote a thriving innovation ecosystem in the Indian pharmaceuticals industry.
It would bring together “stakeholders from the government, industry, academia, investors, and researchers to discuss and strategize priorities to foster a thriving innovation ecosystem in the pharmaceuticals industry in India. It will also highlight the opportunities in the Indian pharma industry that has huge growth potential,” the Prime Minister’s office (PMO) had earlier stated.
The two-day summit has 12 sessions and more than 40 national and international speakers “deliberating on a range of subjects including the regulatory environment, funding for innovation, industry-academia collaboration, and innovation infrastructure”.
Leading members from domestic and global Pharma Industries, officials, investors, and researchers from Massachusetts Institute of Technology, John Hopkins Institute, IIM Ahmedabad, and other eminent institutes are participating in the summit.
This article was originally published on ABP Live