Hyderabad, 18th January 2024: “India’s pharmaceutical sector has rightfully earned the title ‘pharmacy of the world,’ thanks to its extensive production of generic medications. The industry is now poised for a transformative leap – evolving into a global hub for innovative products and sustainable pharmaceutical manufacturing.
To realize this vision, the Indian government needs to implement focused strategies. These include creating innovation zones offering incentives and infrastructural support, encouraging public-private partnerships to combine expertise and resources, and boosting funding for advanced drug research and development. Streamlining regulatory pathways to expedite approvals for novel treatments and investing in educational initiatives to develop a workforce adept in pharmaceutical innovation are also key. These initiatives are expected to usher in a new age of Indian pharmaceutical leadership, characterized by groundbreaking R&D.
India’s potential in sustainable manufacturing is immense, set to substantially contribute to the fight against climate change. With the manufacturing sector projected to add 800-900 billion to the GDP in the next 4-5 years, India is on the brink of revolutionizing manufacturing, integrating sustainability with cutting-edge science and technology. This approach is critical in addressing the global climate crisis.
Embracing ambitious renewable energy and green hydrogen projects, India is gearing up to be a leader in sustainable product manufacturing. This demonstrates the country’s commitment to sustainable development, economic growth, energy independence, and leading the charge in global decarbonization. Innovations in renewable energy, Electrolyzer, green molecules, biobased manufacturing, and advancements in Carbon Capture, Utilization, and Storage (CCUS) are just a few areas where we need to accelerate progress. With the right policies and initiatives, India can transform these potentials into reality, securing its position as a global hub for sustainable manufacturing.”
Dr Krishna Prasad Chigurupati
Chairman and Joint Managing Director,
Granules India.
