Union Health Minister Mansukh Mandaviya on Monday visited the Ayushman Bhav Health Pavilion at the 42nd India International Trade Fair here.
Chemicals and Fertilisers and Health and Family Welfare Minister Mansukh Mandaviya will on Tuesday launch the National Policy on Research and Development and Innovation in Pharma-MedTech Sector in India at the India International Centre here.
Minister of State for Chemicals and Fertilisers and Renewable Energy Bhagwanth Khuba and Niti Aayog member V K Paul will be present. The occasion will also see the launch of the Scheme for promotion of Research and Innovation in Pharma MedTech Sector (PRIP).
The National Policy on Research and Development in the Pharma-MedTech Sector in India can potentially help in the growth of the sector to USD 120-130 billion over the next decade, increasing its contribution to the GDP by about 100 basis points.
The policy aims to encourage R&D in pharmaceuticals, including traditional medicines and phyto-pharmaceuticals and medical devices.
The policy acknowledges the need for greater emphasis on encouraging R&D, through indigenously developed cutting-edge products and technologies on three focus areas, namely strengthening regulatory framework, giving incentive to investments in innovation and creating an ecosystem to facilitate innovation.
The event will see participation by policymakers, experts from the healthcare sector along with representatives from academia, think tanks, industry and media.
This gathering will aim to highlight India’s drug and pharmaceutical export trends, India’s category-wise export share, the preamble of the policy, its need, objectives, focus areas of the objectives and monitoring and evaluation mechanism.