Summary:

Centrum reports that government actions will significantly enhance India's pharmaceutical and healthcare sectors. Key initiatives include the Production-Linked Incentive (PLI) program, aimed at boosting domestic manufacturing and resilience. The Bulk Drug Parks initiative supports the production of essential drugs, while the PRIP program encourages investment in critical medications and high-value products. These initiatives aim to reduce costs, increase competitiveness, and ensure a steady supply. The government has allocated US$ 117.8 million for each Bulk Drug Park, totaling US$ 353.4 million in investment.

The PRIP scheme, with a budget of US$ 82.5 million (Rs. 700 crore), is designed to boost R&D in the pharmaceutical and MedTech sectors. This program will establish Centres of Excellence at NIPER and fund private-sector research. Additionally, the government will promote the fastgrowing AYUSH sector, which increased from US$ 3 billion in 2014 to US$ 23.3 billion in 2022, contributing to the rise in healthcare spending from 1.3% to 3% of GDP.

Source: IBEF 

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