: Govt investing 3400 Cr to setup 3 bulk drug & 4 medical device parks #FinanceIndia #StockMarketNEWS Govt investing 3400 Cr to set-up 3 bulk drug & 4 medical device parks New Delhi, Feb 9 (KNN) The

@StockMarketNEWS Tue 09 Feb, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Govt investing 3400 Cr to setup 3 bulk drug & 4 medical device parks #FinanceIndia #StockMarketNEWS
Govt investing 3400 Cr to set-up 3 bulk drug & 4 medical device parks New Delhi, Feb 9 (KNN) The Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers with FICCI & Invest India are organizing the 6th edition of the annual program on Pharmaceuticals & Medical Device sector – ‘India Pharma & India Medical Device 2021’ scheduled on 25-26 February & 1-2 March 2021.

Union Minister for Chemicals and Fertilizers, D V Sadananda Gowda and Minister of State for Chemicals and Fertilizers Mansukh Mandaviya on Monday addressed the curtain raiser Press Conference on the 6th Edition of ‘India Pharma & India Medical Device 2021’.

Briefing the media, Gowda said, “Healthcare continues to be an integral part of the Government’s priorities with an emphasis on medicines at affordable rates, increasing the accessibility to diagnosis and treatment, boost local manufacturing of medical equipment and encouraging innovation to further reduce the cost of healthcare”.

“The government through its various policies and schemes is encouraging the manufacturing of affordable medical devices and pharmaceutical under its ‘Make in India’ initiative. The India Pharma 2021 & India Medical Device 2021 will lay the groundwork for the next wave of development”, he added.

He mentioned that India is a leading exporter of affordable generics and a major hub for medical devices and diagnostics. India has been serving more than 200+ countries and territories with its Pharma products and will continue to discharge its responsibilities.

He said, “We intend to continue formulating plans that are based on sound science, technology, business sense, and ethics. We continue to strive to increase the ease of doing business in India for which several measures have already been announced and continue to support domestic manufacturing through measures such as the Rs 400 cr impetus given for the creation of 4 world-class medical device parks or the Rs 3000 Cr allocated for the creation of 3 major bulk drug parks. ”

“We are talking about two very high potential sectors of India in this event. The total market size of the Indian Pharma Industry is expected to reach US $ 130 Billion by 2030. The medical devices industry in India has the potential to reach $ 50 bn by 2025”, he added.

Mansukh Mandaviya mentioned that under the leadership of Narendra Modi, the industry has been given a platform to work closely with the government and together chart out a path of progress.

He highlighted that India has been applauded globally in its fight against Covid. During the pandemic, Indian Pharma industries supplied the necessary medicines to over 120 countries while fulfilling the countrys own needs.