Union Minister Mansukh Mandaviya emphasizes the need for Indian pharmaceutical companies to learn from global best practices and develop their own models to capture the global market
In a recent interactive session with the Indian Pharmaceutical Alliance, Union Minister Mansukh Mandaviya called upon the Indian pharmaceuticals industry to transition from a focus on ‘volume’ to ‘value’ leadership, capturing a larger share of the global market. The Minister for Chemicals & Fertilizers and Health & Family Welfare expressed his commitment to supporting the industry with industry-friendly policies and encouraged homegrown firms to learn from global best practices while developing their own models to meet domestic demands and expand their international footprint.
Mandaviya emphasized the need to accumulate knowledge from global best practices in research, manufacturing, and innovation, urging Indian pharmaceutical companies to develop their own models focused on accelerating production to meet domestic demand while increasing their global presence. He highlighted that India, known as the “pharmacy of the world” due to its production of generic medicines and significant volume share in the global market, should now aim to capture top global positions based on value as well.
The Minister stated that Indian companies are at an inflection point to seize top global positions, backed by the necessary manpower and brand power. He stressed the importance of learning from global best practices and developing unique models that meet domestic demands while expanding the global footprint of Indian pharmaceutical companies.
Long-term policies and an investor-friendly ecosystem will be provided to support the industry’s growth and innovation
Mandaviya reiterated the government’s commitment to providing stability and long-term policies that support the industry. He emphasized that the government believes in a holistic approach and bases its policies on extensive stakeholder consultations, fostering a comprehensive, long-term, and vibrant policy ecosystem. The Minister further urged the pharmaceutical industry to take the lead and propose their own models and initiatives to expand manufacturing capacity, invest in innovative technologies, and prioritize research and development.
Furthermore, he highlighted that the government would strengthen the sector by streamlining policies and implementing effective schemes such as the Production Linked Incentive (PLI) to support cutting-edge research. The objective of the meeting with industry leaders was to discuss India’s Pharma Vision 2047 and outline the roadmap for the growth and development of the Indian pharmaceutical sector.
