Pharma industry should focus on quality to compete globally

Nitesh Jain

NEW DELHI: The domestic pharmaceutical industry should focus on quality and affordable manufacturing in order to compete globally, Union minister Mansukh Mandaviya has said.

Speaking at a round-table conference with CEOs of leading pharmaceutical companies here on May 27, Mandaviya also asked the industry to have enhanced focus on research and innovation in the sector.

“The industry is progressing at a rapid rate, and to maintain our stature as the ‘Pharmacy of the World’, we need to focus on quality and affordable manufacturing with an increased focus on research and innovation,” he said.

He urged the stakeholders to capitalise on the current opportunities, stating that substantial investment in terms of production linked incentive schemes as well as upcoming drug parks are bearing fruitful results.

To catalyse growth, the industry must maintain a degree of competitiveness to consolidate presence in the world, Mandaviya said.