Summary:

Over the past 12 years, India's pharmaceutical industry has undergone substantial change, resulting in increased access to healthcare, more reasonably priced medications, and indigenous manufacture. The nation is now the third-largest pharmaceutical manufacturer in the world by volume and a significant provider of generic medications to more than 200 nations and territories. Through more than 15,000 Janaushadhi Kendras, government programs including the PLI Scheme, Bulk Drug Parks, and PMBJP have increased manufacturing and increased access to reasonably priced medications. Complex generics and biosimilars are now more capable thanks to increased investments in R&D, biotechnology, vaccines, and infrastructure. India's status as the world's pharmacy was strengthened by its involvement in the COVID-19 epidemic. In the upcoming years, exports, employment, and long-term sector growth will be supported by a sustained emphasis on innovation, reforms, and self-reliance.

Source: IBEF 

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