Summary:

The "Make in India" initiative helps reduce dependency on imported Active Pharmaceutical Ingredients (APIs) by promoting indigenous manufacturing. Union Minister Dr. Jitendra Singh emphasized this during the 6th CII Pharma & Life Sciences Summit 2024, citing India's ranking as third in pharmaceutical output volume and 14th in value. He highlighted the need to spearhead the next industrial revolution in biotechnology under Prime Minister Narendra Modi's leadership.

According to a CDSCO survey, one in every three pills consumed worldwide is manufactured in India, with a counterfeit medicine incidence of only 0.0245%. India produces 65% of the world's vaccines, significantly impacting health outcomes in low- and middle-income countries. India's bioeconomy has increased 13-fold in the past decade, thanks to 6,000 bio-startups, underscoring the importance of investing in R&D and collaboration through the Anusandhan National Research Foundation's $5.96 billion budget.

Source: IBEF 

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