Hyderabad, April 4 (IANS). A ‘Thought Camp’ was organized on the pharmaceutical sector in the capital of Telangana, regarding which senior IAS officer Rajesh Aggarwal spoke to the media. During this, Rajesh Aggarwal said that ‘Chintan Shivir’ is a part of the thinking of Prime Minister Narendra Modi, whose objective is to brainstorm deeply by bringing the government, industry and other stakeholders on one platform. Under this initiative, by understanding the challenges related to the sector, their solutions and clear direction for the future are being decided.
He said that this forum is not limited to just discussion, but in this a concrete strategy is prepared by clarifying the roles of government, industry and other concerned parties. This is especially important for the pharmaceutical sector, as it is a large and rapidly growing sector of the Indian economy.
Regarding the possible tariffs imposed by America on the pharmaceutical sector, Aggarwal said that as per initial understanding, Indian generic medicines are out of these tariffs. In such a situation, there is little possibility of a major impact on India’s pharma exports. However, some innovative or patented drugs may have limited efficacy.
He also informed that talks are going on on Trade Framework Agreement between India and America. If Indian industry faces problems in any segment, it will be raised under this agreement and solutions will be found.
Aggarwal further said that India’s pharma sector is in a strong position, and the central government is constantly looking at new markets and products to increase its exports. In the last 5-6 years, India has signed 9 Free Trade Agreements (FTAs) covering around 38 economies. Their total economic size is more than $30 trillion.
According to Agarwal, these agreements will open new opportunities for Indian exporters, diversify markets and strengthen the domestic industry. This will also create new employment opportunities.
Regarding the ongoing tension in the Middle East, he said that the current crisis is only a few weeks old, so it is difficult to estimate its long-term impact. However, the government is preparing a long-term strategy keeping these challenges in mind.
Giving the example of the Covid-19 pandemic, he said that such external challenges come from time to time, but India has shown the ability to move forward by dealing with them every time.
According to Aggarwal, India’s pharma industry, with a size of around $60 billion, is now stronger, modern and ready for global competition than ever before. The government aims to ensure that India plays a leadership role in emerging areas such as biosimilars, biologics and innovative medicines.
Aggarwal said that at present there is no indication of any major impact on the prices of medicines. But if any problem arises in future, the government and industry will together find a solution.
He stressed that the biggest priority at present is that the supply of medicines should not be disrupted under any circumstances. The government and the industry are working together to ensure that the availability of medicines remains intact both domestically and globally and that India’s pharmaceutical sector continues to move forward on its path of growth.
–IANS
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