Make in India, Made for the World, PHDCCI event, A review

The pharmaceutical sector in India is experiencing robust growth, with projections indicating potential expansion to 10 per cent of the manufacturing industry. Alongside automotive electronics, drugs and pharmaceuticals, and medtech, it could emerge as the third-largest manufacturing sector in the country. Arunish Chawla, Secretary of the Department of Pharmaceuticals, Ministry of Chemicals and Fertilisers, Government of India, emphasised these points at the PHDCCI’s 8th PharmaMed HD event, themed “Make in India—Made for the World.”

Chawla underscored the need for strategic depth in the value chain, quality standards upgrading, and research and innovation. Initiatives like the PLI scheme aim to bolster the pharmaceutical industry, with greenfield projects inaugurated to manufacture essential medical devices. Additionally, reforms in the PTUAS scheme will support small to medium-sized drug manufacturing units.

Regarding medical technology, efforts are underway to reduce dependency on imports and strengthen domestic manufacturing capabilities. Cristina Ritter from the UN Global Compact highlighted the importance of corporate governance and transformational governance in achieving sustainable development goals.

Dr Sameer Gupta emphasised the significance of India’s commitment to excellence and innovation in pharmaceutical manufacturing and healthcare delivery. Atantra Das Gupta stressed the growth potential of India’s medical device industry and the need for strategic focus areas and infrastructure development.

Atul Sharma emphasised collaboration between industry and government to drive growth, particularly through initiatives like PLI. He highlighted technology adoption as crucial for sectoral growth, citing examples like AI’s role in diagnostics.

Overall, stakeholders emphasised the importance of collaboration, innovation, and strategic planning to propel India’s pharmaceutical and medical device sectors to greater heights under the “Make in India” initiative. Manufacturing Today India