Indian pharma industry likely to reach $100-bn and medical devices sector to $50bn by 2025 : D V Sadananda Gowda

Gowda spoke at the India Pharma and India Medical Device 2020 event where FICCI-EY report ‘Reshaping India into a life sciences innovation hub’was also released

'India Pharma and India Medical Device 2020’,organised by FICCI, jointly with the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India is currently undergoing in Ahmedabad. The three-day event will witness a conglomeration of policymakers, national and international leaders from medical technology industries, academic and research fraternity.

DV Sadananda Gowda, Minister of Chemicals and Fertilizers, said that the Indian pharmaceuticals and medical devices sector has the potential to become the world leader and government will provide all necessary support. According to him, India today is a major hub for medical devices and diagnostics. There have to be certain interventions by the government as far as polices are concerned.

He said that affordability of the medicines is one of the prime concerns of society. “In developing countries where a large section of the population is poor and out of pocket expenses are very high, affordability of the medicines is one of the prime concerns of the society,” he added.