PM pays tributes to Sri MannathuPadmanabhan Ji on his PunyaTithi.
- MannathuPadmanabhan (1878 – 1970) was an Indian social reformer and freedom fighter from Kerala.
- He took part in anti-untouchability agitations and advocated opening temples for people of all castes.
- He also participated in the Vaikom Satyagraha.
- He is also known for his founding of the Nair Service Society (NSS).
- India Pharma 2021 & India Medical Devices 2021
- Union Minister inaugurated a four-day Global Investors’ meet: India Pharma 2021 & India Medical Devices 2021.
- The event is organised by FICCI along with the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India, and Invest India (India’s national investment promotion & facilitation agency, under the Ministry of Commerce and Industry).
- EY-FICCI report titled ‘Indian Pharmaceutical Industry 2021: Future is Now’ was also launched during the event. Key Highlights of the EY-FICCI report
- The opportunities that have emerged to accelerate the growth of Indian pharmaceutical and healthcare industry are – innovation led research and development, healthcare delivery (R&D), manufacturing and supply chain, and market access.
- The Indian pharmaceutical industry has to reinvent and undertake fundamental reforms to achieve the ambitious target of $130 billion in size by 2030.
- To reach that target from the current $42 billion, the Indian pharmaceutical industry will require to double the last decade’s growth rate of 6% to 12%.
- The overall growth has been driven by the industry’s leadership in supplying generic formulations to markets across the globe.
Accelerating research and innovation:
- To meet this objective, the industry must consider setting up an overarching regulatory body and a central body to streamline research infrastructure and financing from all government bodies.
- Achieving equitable and sustainable healthcare with support of digital healthcare infrastructure and enabling teleconsulting and focusing on preventive healthcare are also important.
- The focus of manufacturing and supply chain initiatives would be to develop capabilities in active pharmaceutical ingredients (APIs) and enable the manufacturing of complex generics.
- Besides attracting talent, it is vital to encourage and set up pharma machine manufacturing facilities in India to lower fixed costs, enable savings in forex and reduce time to set up additional facilities.
- There is also a need to bolster the logistics infrastructure for connecting the key pharma hubs in the country in order to facilitate quick and cost efficient movement of goods including cold chain facilities.
- Improving access to medicines and various global best practices in drug pricing and procurement models can be contextualized for developing geographies.
- Digital marketing of pharma products too must be considered.
SOURCE: THE ECONOMIC TIMES