New Delhi: Union Commerce and Industry Minister Piyush Goyal today asked the domestic pharma industry to strengthen generic drugs and ensure better coordination between raw material and production. Addressing the Golden Jubilee celebrations of the Indian Drug Manufacturers Association (IDMA), Goyal on Friday said the pharma industry should make a long-term plan to meet the challenges of the global supply chain. Calling for sustaining the growth of the sector over the past decade, Goyal said that it has become imperative for the pharma sector to become self-reliant.

Coordination between raw material and production

The Commerce Minister said that it is becoming more and more challenging to predict the global supply chain. In such a situation, it is necessary that we not only focus on our strength in the field of generic drugs, but also maintain synergy in raw material and production. According to Goyal, the country will have to work on a plan to become self-reliant in the long run. Only then will we stand before the world with the confidence of a mighty nation and work on equal terms with the world for a better future for our industry.

The goal of becoming a supervisor should be

Goyal said that India should aim to become the custodian of the world’s healthcare sector. Each country protects its core industry and I believe that our major industry is pharma.

Big companies benefit from PLI

Referring to the Production Based Incentive (PLI) scheme launched by the government for the pharma sector, he said that big companies in this sector should take advantage of it. Free trade agreements (FTAs) with several countries will pave the way for easier approvals for Indian pharmaceutical products across the world.