India a Key Player in Generic Medicines – Suresh Prabhu

0
941
Genetics
Genetics
0 0
Azadi Ka Amrit Mahoutsav

InterServer Web Hosting and VPS
Read Time:1 Minute, 19 Second
India a Key Player in Generic Medicines – Suresh Prabhu 

Suresh Prabhu speaking at a function organized by OPPI in New Delhi

Union Minister of Commerce and Industry, Suresh Prabhu, said that India is recognized globally as one of the key players in the field of generic medicines. Speaking at a function organized by the Organization of Pharmaceutical Producers of India (OPPI), in New Delhi today, he said by 2020 India is likely to be among the top three pharmaceutical markets by incremental growth and 6th largest market globally in absolute size. The Minister further said that increase in the size of middle class households coupled with the improvement in medical infrastructure in the country will influence the growth of the pharmaceuticals sector.

Suresh Prabhu said that India is the best destination for research in genomics and their application. He called for a balance between the growth of pharma sector and protection of consumer interests. Suresh Prabhu said that there are great opportunities in African and Latin American countries for Indian pharmaceutical industry and India has the potential to become a place for holistic solutions in the healthcare sector. He said that the pharma industry will play a key role in driving India to become a $ 5 trillion economy.

The Indian pharmaceuticals market witnessed growth at a compound annual growth rate (CAGR) of 5.64 percent, during 2011 to 2016, with the market increasing from US$ 20.95 billion in 2011 to US$ 27.57 billion in 2016. The industry’s revenues are estimated to have grown by 7.4 percent in 2017.

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Advertisements

USD





LEAVE A REPLY

Please enter your comment!
Please enter your name here