India’s pharmaceutical landscape is evolving rapidly, with significant contributions to global healthcare highlighted at the 21st Indo-US Economic Summit. Rajeev Juneja, Vice Chairman and Managing Director of Mankind
India’s pharmaceutical landscape is evolving rapidly, with significant contributions to global healthcare highlighted at the 21st Indo-US Economic Summit. Rajeev Juneja, Vice Chairman and Managing Director of Mankind Pharma, emphasized the nation’s role in producing affordable, high-quality medicines, stating, “Every fourth tablet consumed globally is made in India. We have come a long way in this journey.”
Madhukar Kumar Bhagat, Joint Secretary of the Union Ministry of Health and Family Welfare, stressed the importance of collaboration between public and private sectors to enhance healthcare accessibility, especially in underserved rural areas. “Corporate hospitals will not be able to operate in these regions anytime soon, so government intervention is essential,” he noted. He outlined four critical pillars for healthcare development: availability, affordability, access, and quality, aligning with the vision of a “Vikshit Bharat” (Developed India).
Technological advancements, particularly in Artificial Intelligence (AI), are also a focus for the government, with Bhagat highlighting ongoing efforts to support cutting-edge research to improve healthcare services nationwide.
Juneja pointed out that while India has made remarkable progress, challenges remain, particularly in research and development (R&D) for cancer treatments and navigating regulatory hurdles. He expressed optimism about government support for innovation.
Dr. Shefali Misra from Biocon Group discussed India’s commitment to developing biosimilars and biologics, responding to the increasing global demand for these often-costly treatments. “We began with generics, but now we are focused on biologics to meet global healthcare needs,” she said.
A critical concern raised was antimicrobial resistance (AMR). Dr. Sangeeta Sharma from IHBAS highlighted the urgent need for innovation and investment in new antibiotics and diagnostic tools to combat this growing threat. “The pipeline for new antibiotics has been drying up for decades. We need to preserve existing ones and ensure quality control to mitigate resistance,” she warned.
She called for collaboration across industries to enhance awareness and improve surveillance, advocating for innovations such as point-of-care testing to ensure drug quality.
India’s pharmaceutical industry is a key player on the global stage, with drug and pharmaceutical exports reaching USD 25.4 billion in FY23 and projected to exceed USD 31 billion in the coming financial year. Genessa Giorgi, Health Attaché at the U.S. Embassy, highlighted India’s efforts in global healthcare initiatives and its partnership with the United Nations. She urged a collective push toward healthcare innovation, stating, “By prioritizing healthcare and fostering partnerships, we can create a healthier society, not just for India and the U.S., but for the entire world.”
As India continues to cultivate a vibrant ecosystem of pharma and biotech startups, significant investments in R&D and AI-driven pharmaceutical IT hubs are expected to shape the future of global healthcare.
