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Business EconomyPosted at: Apr 25 2022 11:29PM


India's pharma export rises by 103 pc since 2014: Mandaviya

New Delhi, April 25 (UNI) Union Health Minister Mansukh Mandaviya said on Monday that the export of drugs and pharmaceutical products from India has increased by 103 per cent since 2014.
"A significant rise of 103 per cent in the export of Indian drugs and pharmaceutical products has been reported between 2013-14 and 2021-22," Mandaviya, who is also the Union Minister for Chemicals and Fertilizers said while inaugurating an international conference here.
The Minister was inaugurating the 7th International Conference on Pharma and Medical Devices sector.
He said that India is the pharma hub in the world with the 5th highest medicine production in the world.
Mandaviya also said that the central government is working to provide industry-friendly policies along with ease of doing business.
"The Indian medical device sector is currently standing at $11 billion and is likely to reach $ 50 billion by 2025. Currently, over 80 per cent of medical devices are imported to India. With R&D, and innovation, India will soon produce 80 per cent of medical devices in India," he added.
The Minister also said that the government is continuously working to increase the strength of doctors, medical institutions and the health infrastructure in the country.
Congratulating the pharma industry of the country in ensuring India’s successful fight against Covid-19, Mandaviya said that the way India has managed Covid-19 pandemic is a global case study.
"Today the entire world community is praising India’s efforts in carrying out the World’s largest vaccination drive. We have administered more than 187 crore doses in the country so far which is a commendable feat," he said while praising the pharma industry.
“Conferences like India Pharma and India Medical Device 2022 provide a platform for industry, academia and policy makers to brainstorm and draft a plan for the next 25 years for the sector,” Mandaviya added.
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