India is a world-class, cost-effective healthcare destination and a global leader in the pharmaceutical industry: Jitin Prasada, ET HealthWorld

New Delhi: Minister of State for Commerce and Industry Jitin Prasada highlighted India’s emergence as a premier, cost-effective healthcare destination and a global leader in pharmaceuticals.

According to the Ministry of Commerce and Industry, Prasada, while inaugurating the three-day International Pharma and Healthcare Exhibition (IPHEX 2024), organised by the Pharma Export Promotion Council of India (CAPEXIL) and the Ministry of Commerce and Industry in Greater Noida, Uttar Pradesh, urged the Indian pharmaceutical sector to strive to become a global healthcare manager.

He urged the pharmaceutical industry to increase exports and seize new opportunities for growth. Prasada said India was already recognised as the ‘pharmacy of the world’.

It is extremely important that we not only focus on our strengths in the generic sector, but also ensure our forward and backward connections, the minister added, noting that it is important that we try product development and explore new avenues.

The minister urged the industry to focus on innovation, quality and cooperation with the global market. “International competitiveness will be very important. It is important to keep up with new developments and good manufacturing practices,” he said.

He also noted that the government has come up with many schemes such as the PLI for APIs and for medical devices.

Prasada said, “The three-day pharma expo IPHEX offers a great platform for domestic industry majors from India and the world to connect and do business. It provides an opportunity to meet new and existing customers who are actively looking for new suppliers, or want to review the current progress of existing projects.”