The Budget has enhanced the allocation to the Department of Scientific and Industrial Research (DSIR) from Rs 5746.51 crore in 2023-24 to Rs 6323.41 crore 2024-25 marking an increase of 10.03 per cent, of which Rs 6265.80 crore has been earmarked for Council of Scientific & Industrial Research (CSIR).
The Union Budget 2024-25 is focussed on driving the growth and development of entrepreneurship, employment and skilling, making India a manufacturing hub of the world and boosting primary and secondary healthcare in the country factors by and large being hailed by leaders and experts as keystones on India's path of 'Viksit Bharat' to become one of the world's biggest economy. The Prime Minister asserted "Today's budget has brought new opportunities, new energy, new employment and self-employment opportunities. It has brought better growth and a bright future."
Healthcare/medtech
The government has increased the budget allocation for the healthcare sector by 15 per cent compared to the previous year. This increase aims to improve healthcare infrastructure and services across the country. Three cancer drugs namely Trastuzumab Deruxtecan, Osimertinib and Durvalumab have been fully exempted from custom duty, to make cancer treatment more affordable in the country. The budget has also introduced schemes to enable changes in Basic Customs Duty (BCD) on X-ray tubes & flat panel detectors for use in medical X-ray machines under the Phased Manufacturing Programme. Although the announcements have been welcomed by the healthcare sector, experts opine that customs duty reduction on finished goods is still a pending demand.
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Denne historien er fra August 2024-utgaven av Bio Spectrum.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Amit Agrawal steps in as new Pharmaceuticals Secretary
Amit Agrawal, the Chief Executive Officer (CEO) of the Unique Identification Authority of India (UIDAI), has been appointed as the new Secretary of the Department of Pharmaceuticals, Government of India.
IIT-B joins hands with Tohoku University to offer MTech, PhD dual degree programmes
The Indian Institute of Technology, Bombay (IIT-B) has entered into a Memorandum of Understanding (MoU) with Japan's Tohoku University to launch the IIT Bombay-Tohoku University Joint Academic & Research Programme.
Innovative injectable hydrogel to offer targeted breast cancer therapy
In a multi-institutional research led by researchers from Indian Institute of Technology Guwahati (IIT-G) and Bose Institute Kolkata, an advanced injectable hydrogel has been developed for localised cancer treatment.
Bio-Techne, Waters ink co-marketing agreement for biotherapeutic characterisation
American life sciences company Bio-Techne Corporation, a leader in automated platforms for biotherapeutic characterisation, has announced a co-marketing and co-promotion agreement with Waters Corporation aimed at expanding the reach of advanced biotherapeutic characterisation and development processes.
Nano-formulation of darkness hormone to serve as therapeutic solution for Parkinson's disease
Scientists from Institute of Nano Science and Technology (INST) Mohali have proved that nano-formulation of Melatonin, the hormone produced by the brain in response to darkness, showed improved antioxidative and neuroprotective properties and could be a potential therapeutic solution for Parkinson's disease (PD).
"Govt should facilitate low-interest loans or VC funding specifically for biopharma startups & small enterprises"
\"In a recent development, Nagpur-based biotech company GeNext Genomics (GNG) has joined -hands with Merck Life Science to support the Indian biotech system, particularly in the area of biomanufacturing, which is garnering more attention after the approval of the BioE3 policy.Supriya Kashikar, Founder & Chief Executive Officer, GeNext Genomics shares her views with BioSpectrum on the growth of biomanufacturing sector in India, and how the company plans to play a relevant role in this aspect.
Redcliffe Labs reinforces strategic leadership as Aditya Kandoi steps into CEO role, Dheeraj Jain as Chairman
Redcliffe Labs, a purpose-driven pan-India omnichannel diagnostics service provider, has announced a strategic leadership transition.
Zyla Health on-boards Rohit Boda as Advisor
Gurugram-based Zyla Health, a care management platform, has announced the onboarding of renowned industry leader, Rohit Boda, to the Board of Advisors.
Claypond Capital appoints Shravan Subramanyam to lead medtech platform
Claypond Capital, the family investment office of Dr Ranjan Pai, has announced the appointment of Dr Shravan Subramanyam as the head of its medical technology platform.
How AI Innovations at GCCs Solidifying India's Position in Global Life Sciences Industry
India's life sciences sector is undergoing a major transformation, led by the expansion of Global Capability Centres GCCs). These centres, which serve as strategic hubs for multinational companies in pharmaceuticals, biotechnology, and healthcare, are strengthening India's role in the global life sciences landscape. Currently, there are over 95 life sciences GCCs in India, employing approximately 280,000 professionals. By 2030, this number is projected to reach 160 GCCs and around 420,000 employees. Advancements in artificial intelligence AI) are central to this transformation, driving innovation across drug discovery and clinical research. India's life sciences GCCs have evolved from operational support centres to world-class R&D engines, leveraging India’s robust talent pool, advanced technology adoption, and cost advantages. These GCCs are driving the future of Al-powered drug discovery and clinical research. Let’s explore further.
