India Emerging as a Robust Pharma Economy, Set to Drive Future Growth, Says Union Minister Dr. Jitendra Singh

The PRIP scheme, which has an outlay of INR 5,000 crore, is aimed at supporting India's transition from low-cost manufacturing to high-value innovation.

India is set to become a global player in pharmaceuticals and medical technology, with the sectors expected to play a larger role in economic growth and healthcare delivery, according to Union Minister of State Dr. Jitendra Singh.

Speaking at the recent healthcare event, the Minister in charge of Science & Technology, Earth Sciences, and MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy, and Space, noted that India is steadily evolving into a robust pharma economy, which will not only accelerate future growth but also emerge as a significant contributor to the country’s overall GDP.

Highlighting the growth of the pharmaceutical and medtech industries, the minister said, “India’s healthcare and medtech ecosystem is undergoing a major shift, with a strong focus on global quality benchmarks, indigenous innovation, and integration of research with industry. Over the past decade, India has witnessed a remarkable transformation in healthcare, moving from a largely import-dependent system to one driven by indigenous capabilities.”

During the event, Singh stated that India is positioning itself as a global hub for affordable and high-quality healthcare solutions, driven by indigenous innovation and manufacturing capabilities.

Additionally, Singh noted that “homegrown” products in India now meet global benchmarks with regulatory systems aligned to international standards.

“Indigenous medical devices such as stents, ventilators, and diagnostic equipment are increasingly ensuring safety, efficacy, and affordability,” he said.

The Minister also spoke about the emergence of cutting-edge technologies in India’s healthcare ecosystem, including gene therapy, with successful trials in conditions like haemophilia, as well as innovations in treatment for diseases such as sickle cell anaemia.

On the policy front, Singh highlighted the Promotion of Research and Innovation in Pharma-MedTech (PRIP) scheme, which has an outlay of INR 5,000 crore aimed at supporting India's transition from low-cost manufacturing to high-value innovation.

He also referred to the MedTech Mitra platform, designed to enable innovators to navigate regulatory pathways more efficiently and enable faster deployment of medical technologies.

Singh also stated that currently India holds approximately 1.5 per cent of the global medical device market witg the government further working to significantly expand this share under the National Medical Device Policy 2023.

The Minister further noted that initiatives like the Anusandhan National Research Foundation and the Maha MedTech Mission are strengthening the research ecosystem by connecting laboratories with clinical applications.

Furthermore, he added that the collaboration between industry, academia, and government institutions has been institutionalized to ensure India becomes a preferred global destination for high-quality healthcare.

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