The Union Minister of Health and Family Welfare in the government of India, Mansukh Mandavia, interacted with the pharmaceutical companies in Japan and members of the Japan Pharmaceutical Manufacturers Association (JPMA) at the Indian Embassy in Tokyo. During these interactions, he observed that the world started seeing India as a hub for global pharmaceuticals.
According to the Union Minister of Health and Family Welfare, the country’s pharmaceutical industry is playing a critical role in making significant improvements in the healthcare sector. The minister stated that the industry of India supplies affordable and high-quality drugs to the rest of the world.
The Director General of the Japan Pharmaceutical Manufacturers Association, Junichi Shirais, and the Managing Director of the JPMA were also a part of the interaction. The Union Minister of Health and Family Welfare, Mandavia, talked to the gathering about India’s various contributions to the world’s pharmaceutical sector.
According to the union minister of Health, Mansukh Mandavia, India provided 60% of the global vaccine supply. The country is also responsible for over 20-22 per cent of the generic exports. The pharmaceutical industry of the country focuses primarily on manufacturing generic drugs. Accordingly, the industry supplied essential medicines for the Covid-19 pandemic to 185 countries.
The country also exports bulk drugs and active pharmaceutical ingredients to the rest of the world. The industry includes 3000 companies and 10,500 manufacturing units. The experts believe that the the drive will value US $130 Billion by the end of the decade.
Further, Minister Mandavia stated that the government is creating a robust ecosystem for pharmaceutical manufacturing. They are doing so by creating Bulk Drug Parks. The government has also established six National Institutes of Pharmaceutical Education and Research. The government believes that these educational institutions are of “national importance.”
The country had also created a reputation for itself as several countries chose India to conduct global drug trials. This new development came after the New Drugs and Clinical Trial Rules