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The Central government's healthcare vision promises transformative progress in the pharma sector. Its comprehensive plan highlights research, regulation, and infrastructure improvements, according to Arushi Jain, director, Akums Drugs & Pharmaceuticals.
She further adds that the strategic focus on these critical areas is anticipated to drive significant investment and sectoral growth. By fostering an environment conducive to innovation and efficiency, the government aims to ensure that India not only meets its domestic healthcare needs but also competes effectively on the global stage. The initiatives are expected to create a robust foundation for sustained growth and development in the pharmaceutical sector.
“Following its recent electoral victory, the re-elected government has laid out an ambitious and optimistic vision for the healthcare and pharmaceutical sectors. This agenda promises significant advancements in research and development, streamlined regulatory processes, and enhanced infrastructure, aiming to propel India's medical science and public health delivery into a new era of efficiency and innovation,” Jain explains.
She further adds that with a substantial increase in funding for research, the government aims to catalyze innovation in the pharmaceutical industry. This move is particularly focused on the development of new drugs for rare diseases, which will enhance the industry's agility and efficiency. Faster introduction of cutting-edge treatments is a primary goal, addressing long-standing gaps in the availability of advanced medical therapies.
“By simplifying regulatory processes, the government intends to expedite drug approvals and create a more dynamic pharmaceutical sector. A strong commitment to the 'Made in India' initiative underscores the government's plan to bolster self-reliance and elevate India's status in the global pharmaceutical market. The government's focus on improving both digital and social infrastructure promises to revolutionize healthcare delivery across the nation. This initiative aims to bridge the urban-rural healthcare divide, making quality services accessible to all, regardless of geographic location. Several flagship initiatives, including the production linked incentive (PLI) scheme, Ayushman Bharat Yojana, and the Pradhan Mantri Bhartiya Janaushadhi Pariyojana, are set to increase healthcare accessibility and affordability,” Jain concludes.
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