India can grow 3-4 times in value by achieving a shift from 10% share of Pharma and MedTech in the manufacturing sector in 2020 to 20% share in 2030, Mr Arunish Chawla, Secretary, Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers said.
Speaking at CII 5th Life Sciences Summit 2023 in Delhi, Mr Chawla added that currently Life Sciences industry is at its EDGE, where E is for efficiency, D for Demographic Dividend, G is for government policy and E for economies of scale’- Arunish Chawla, Secretary, Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers
He emphasized that India has largest number of FDA approved plants in US, exports to 200 countries with value accounting to more than $50 billion and 2/3rd of global vaccines WHO requirements are met by India. He emphasized on 3 key themes- Policy, research, and industrial strategy.
Innovation is on rise in India- MedTech, assistive technology and smart medicine is evolving but a streamlined innovation strategy is required. Silos need to be broken between academia, laboratories, and industry.
Mr Chawla added that a shift is required from publications to patents and a mechanism for research oriented sponsored degrees from industry is the need of the hour to foster innovation. India has undergone a structural change and has become an active exporter from passive importer.
He further said that India must utilize its technical resources, demographic dividend, skilled manpower, forward looking government policies and economies of scale to become a world leader in Pharmaceuticals.
Dr Jitendra Kumar, Managing Director, Biotechnology Industry Research Assistance Council (BIRAC) in his address emphasized the need for innovation in India. He stated that the policies introduced by the government are conducive to the growth of the sector. He appreciated initiatives like 100% FDI through direct route for greenfield projects, National policy on R & D for MedTech and Pharma, increase in investments and government support through BIRAC that funds startups for proof of concept, availability of alternate funds and so on.
He emphasized that Corporate Venture Funds are required from industry to handhold startups and international scale up. He focussed upon developing research and innovation framework of the country and development of Bio-Manufacturing in India.
Mr GV Prasad, Chairman, CII National Committee on Pharmaceuticals and Co-Chairman & Managing Director, Dr Reddy’s Laboratories Limited highlighted the importance of reforming business models, self-reliance, innovation, and global collaboration for enterprises in the Life Sciences domain.
He stated that India is now a global force in Active Ingredients space and is emerging as a major player in manufacturing and supply of vaccines. Biological drugs and biosimilars is a major area which drives growth in India.
Dr Rajesh Jain, Chairman, CII National Committee on Biotechnology and Chairman & Managing Director, Panacea Biotec highlighted that the current landscape of the sector is very optimistic and is showing unprecedented growth. He appreciated the active support of Government through various policies and reforms like Make in India and DBT.
He emphasized that Biotech incubators and startups are the growth drivers, and the number of such startups will increase to 10,000 by next year. CII’s focus this year will be to facilitate improvements in the Regulatory Framework, make it transparent, simple, and harmonized to promote the research and development of the sector.
Upscaling cell and Gene therapy, skilling and training of regulatory workforce, improvements in IP and Biodiversity law aspects, Industry-academia collaboration and vaccine development will be other important areas of attention by CII.