Citing Q2 growth of 7.6 per cent in FY24, the Union finance minister said the country had the most significant growth making it the fastest-growing economy.
Seeking to position India as a global hub for pharmaceutical excellence, Union Health Minister Mansukh Mandaviya on Sunday underscored the country’s unwavering commitment to the well-being of humanity as demonstrated by it during the Covid-19 pandemic.
”Our vision is clear, our goals are ambitious, and our determination is unyielding,” he said in his keynote address to Indian Industry leaders in pharmaceuticals and G20 ministers and delegates on the sidelines of the G20 Health Ministers’ Meeting in Gandhinagar.
He proudly acknowledged India’s prowess in the pharmaceuticals and medical devices field. “India is recognised as a cornerstone in the global pharmaceutical landscape,” he stated.
Mandaviya also emphasised the country’s dedication to providing affordable, high-quality drugs and its significant contribution to global accessibility, saying India was supplying around 60 per cent of the world’s vaccine needs and 20-22 per cent of generic exports.
“In the battle against the (Covid-19) pandemic, India supplied essential drugs to approximately 185 countries,” he said highlighting the well-being of humanity.
The minister also focused on India’s vision for the future of healthcare, centered around a transition from volume-based approaches to a value-based leadership model. “Our commitment to quality, accessibility, and affordability in healthcare is unwavering,” he added.
Under the visionary leadership of Prime Minister Narendra Modi, the government was resolute in driving meaningful change in the healthcare sector.
Acknowledging the paramount importance of research and development in healthcare advancement, he announced India’s strides in fostering an innovative environment.
He stated that India was in the final stages of introducing a national policy to promote research and development and innovation in the pharma-medical devices sectors.
Mandaviya’s call to action resonated throughout his address, inviting countries, government bodies, industry leaders, healthcare professionals, and researchers to join forces in a united effort. “Our collective strength has the potential to elevate the pharmaceutical and medical devices sectors to unprecedented heights,” he added.
The minister emphasised: “Healthcare is not just a sector, but a mission, one that aligns with India’s commitment to providing the highest quality healthcare to every citizen. Our pharmaceutical and medical devices industry stands as a vital partner in this mission.”