New Delhi, Oct 9: India is poised to become a global leader in biopharmaceuticals, bio-manufacturing, and life sciences by 2030, according to Dr. Jitendra Singh, Union Minister of State for Science and Technology. Speaking at the sixth CII Pharma and Life Sciences Summit: 2024 in New Delhi, Singh highlighted India’s growing influence in the pharmaceutical industry and its future potential.
Singh lauded India’s role as a hub for affordable, high-quality medicines and emphasized the importance of vaccine equity and technology transfer to enhance global vaccination efforts. He credited the ‘Make in India’ initiative for reducing reliance on imported Active Pharmaceutical Ingredients (APIs) and boosting self-reliance in critical healthcare supplies.
India now ranks third globally in pharmaceutical production by volume and 14th by value. Singh noted the shift from a focus on generics to the development of biopharmaceuticals and biosimilars as a key milestone for the industry.
The biotech sector, according to Singh, will drive the next industrial revolution in India, aided by initiatives like the Production Linked Incentive (PLI) scheme. He expressed confidence that India will be a global leader in these fields by 2030.
Highlighting India’s contributions to global health, Singh mentioned the development of the world’s first DNA vaccine for COVID-19 and efforts to create a human papillomavirus (HPV) vaccine for adolescent girls to prevent cervical cancer. India, which produces 65% of the world’s vaccines, has played a crucial role in improving health outcomes, particularly in low- and middle-income countries.
Singh concluded by stating that while much remains to be done, India is well on its way to achieving global leadership in biopharmaceuticals and bio-manufacturing.
