On the 9th of February, Piyush goyal said India continues to serve as the ‘Pharmacy of the World’. Exports of pharmaceutical products rose to almost 2.4 times in April-December 2022, over the same period in 2013.
Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Govt. of India Piyush Goyal, stated that India continues to serve as the “Pharmacy of the World.” The country’s exports of pharmaceutical products have risen significantly in recent years, with a growth of almost 2.4 times between April-December 2022, compared to the same period in 2013.
India has long been known for its strong pharmaceutical industry and its ability to produce high-quality, affordable medicines for both domestic consumption and exports. The country has a rich history of traditional medicine and is home to a large number of pharmaceutical companies that manufacture a wide range of products, including generic drugs, vaccines, and biopharmaceuticals.
The significant increase in exports of pharmaceutical products is a testament to the strength of India’s pharmaceutical industry and its ability to meet the growing demand for affordable medicines across the world. The rise in exports is also a reflection of the government’s efforts to promote the growth of the pharmaceutical sector and to make India a hub for pharmaceutical production.
In recent years, the government has taken several steps to boost the growth of the pharmaceutical industry. These include the introduction of policies that promote the development of new drugs and encourage investment in the sector. Additionally, the government has been working to improve the regulatory environment, making it easier for companies to do business in India.
The growth of India’s pharmaceutical industry has also been helped by the increasing global demand for affordable medicines. With the rise of chronic diseases such as diabetes, heart disease, and cancer, there is a growing need for affordable and accessible medicines, particularly in developing countries. India is well positioned to meet this demand, with its large pool of talented scientists and engineers, as well as its rich tradition of traditional medicine.
India continues to serve as the “Pharmacy of the World,” with exports of pharmaceutical products rising significantly in recent years. This is a reflection of the strength of the country’s pharmaceutical industry, the government’s efforts to promote its growth, and the increasing global demand for affordable medicines. The future of the pharmaceutical industry in India looks bright, and the country is well poised to continue playing a leading role in providing affordable and accessible medicines to the world.
