Spurred by economic reforms, a thriving local industry, digital transformation, and increasing global investments, India is poised to be a powerful economic growth engine in the next decade. At Thermo Fisher Scientific, we are committed to being a key contributor to India’s growth through our Mission, to enable our customers to make the world healthier, cleaner and safer.
Leveraging opportunities in healthcare
Led by proactive steps and favorable policies, the Indian healthcare and biopharma sectors have demonstrated exceptional resilience in the last two years. As the world’s largest supplier of generic drugs by volume, India is already a major player in the global pharma market. Also, there has been a growing focus on innovation to bring new therapies and biology-based medicines to India.
Thermo Fisher, with its scale and depth of capabilities in both drug substances and products and in small and large molecules, is partnering with pharma and biotech labs from R&D to commercialization and production. We are also working closely with leading pharmaceutical companies, offering workflow-based solutions for API and drug manufacturing, such as the identification of nitrosamine impurities that have led to global recalls.
Healthcare in India is still underserved with unmet needs in diagnostics and treatment modalities. An aging population and a growing incidence of cancer and other lifestyle diseases are areas where technology is disrupting diagnostics. As a country, we are in the early stages of adopting precision medicine and next-generation sequencing (NGS). On these fronts, Thermo Fisher is playing an important role in building capabilities and offering the best solutions. We will continue to leverage our capabilities in the fields of oncology research and treatment, reproductive health and omics, and cell and gene therapies with our complete suite of offerings.
Committed to a sustainable future
Environment sustainability is an integral component of Thermo Fisher’s approach to corporate social responsibility and includes three focus areas:
Climate – We are committed to reaching net-zero emissions by 2050, in alignment with the science-based targets initiative and the Paris agreement.
Product design – By incorporating sustainability principles into our products, we help customers advance sustainability.
Nature – We are advancing science-based approaches to water, water quality, and waste.
We are working closely with government organizations and our customers to build advocacy and generate momentum to achieve the country’s ambitious target to become a net-zero emitter by 2070. Our efforts are aligned toward offering new technologies for bioenergy production, mitigating air-borne transmissions of contagious diseases, clean energy transition, and evaluating water toxicity.
On the path to our net-zero value chain by 2050 that includes Scope 1, 2, and 3 emissions, we recently raised our 2030 greenhouse gas emissions-reduction target to reduce Scope 1 and 2 emissions from operations by more than 50 percent from a 2018 baseline. We are already on track to achieve our previous 2030 goal of a 30-percent reduction, ahead of schedule.
Collaborations for a safe ecosystem
Food safety is one of the highest priorities for health and well-being, an important Sustainable Development Goal. To ensure quality certification for India’s agricultural and processed food exports, we continue to support labs with advanced workflows for food testing and safety.
On a different note, the Criminal Procedure (Identification) Act of 2022 was recently implemented for the safety of the citizens of India, with a vision to achieve 90-percent conviction rate in crime cases. The bill mandates the use of forensic evidence and serves as an effective means for the government’s effort to make India the best in the world for forensic testing. Thermo Fisher is offering technological advancements in DNA workflow along with consumables, software, and validation services.
A differentiating experience
Embracing a data-driven approach and creating a digital-first ecosystem to increase effectiveness with our customers will remain a priority for us in 2023. We will continue to advance our growth strategy, strengthen our core business, invest in new technologies, and expand our capabilities in India through localization.
We see long-term potential in the areas of biosimilars, and management of cancers and immune disorders. Through significant investments and global acquisitions, we are strongly positioned to bring cutting-edge technologies for customers and better treatment for patients.