Saturday, 27 February 2021

Centre foresees growth of pharma industry to tune of $130 B by 2030

08 February 2021 | News

The introduction of the PLI Scheme for domestic manufacturing of medical devices with an outlay of Rs 3,420 crore has also made major huge strides in the sector & is expected to continue to support further

Source credit: Shutterstock

Source credit: Shutterstock

The Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India jointly with FICCI & Invest India is organising the 6th edition of annual programme on Pharmaceuticals & Medical Device sector – ‘India Pharma & India Medical Device 2021’ scheduled on February 25-26 & March 1-2, 2021.

The theme for this year India Pharma is ‘Indian Pharma Industry: 'Future is Now’ and for India Medical Device is ‘India MedTech Future: Innovate & Make in India through Global Alliance’.

Speaking at the event, DV Sadananda Gowda, Minister for Chemicals and Fertilizers, Government of India congratulated the pharma, medical device and healthcare industry partners for their outstanding work during the pandemic.

Gowda said, “The India Pharma 2021 & India Medical Device 2021 will lay the groundwork for the next wave of development.”

He added saying that 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 the $130 billion by 2030. The medical devices industry in India has the potential to reach $50 billion by 2025.

The introduction of the PLI Scheme for domestic manufacturing of medical devices with an outlay of Rs 3,420 crore has also made major huge strides in the sector & is expected to continue to support further.

Mansukh Mandaviya, Minister of State for Chemicals and Fertilizers, Govt of India said owing to the paramount importance of the pharmaceuticals & medical devices sector, the India Pharma & Medical Devices 2021 is a timely affair and will allow us to deliberate upon the opportunities and key challenges in the areas of the sectors.

S Aparna, Secretary, Department of Pharmaceuticals, mentioned that to further provide business linkages & remove bottlenecks in the growth of the sector this edition of event will be organised virtually and participants from across the globe will participate.

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