Hyderabad: Union Minister for Coal and Mines, G Kishan Reddy, announced that the Centre has allocated Rs 15,000 crore to support domestic manufacturing sectors. This funding will be used to improve common infrastructure facilities in the upcoming bulk drug park.
Speaking at the 73rd Indian Pharmaceutical Congress, Reddy highlighted the pharmaceutical technology upgrade assistance scheme, which aims to help the pharma sector meet global standards. He emphasized that the Centre recognizes the strength of the Indian pharmaceutical industry and will provide necessary cooperation.
Reddy also mentioned the Centre’s efforts in the health services sector, noting that the number of medical colleges has increased from 388 in 2014 to 705 currently, representing an 82 per cent increase. Additionally, the number of MBBS seats has risen by 112 per cent, from 51,000 to 1.9 lakh, while PG seats in medicine have also increased by 112 per cent nationwide.
The Union minister pointed out that 12 crore families are covered by Rs 5 lakh health insurance under Ayushman Bharat, and Jana Aushadhi Centre offers medicines at a discount of 50–90 per cent. Reddy expressed gratitude to Parham Industries for transforming Hyderabad into a pharmacy hub.
He highlighted that Indian pharmaceutical exports are among the top five exporting commodities, totaling Rs 1.83 lakh crore. Specifically, 35 per cent of these exports, amounting to Rs 67,000 crore, are sent to the US alone. Reddy also mentioned the export of COVID vaccines to 94 countries and two UN entities.
Supporting the pharmaceutical sector aligns with the Centre’s vision for a ‘Viksit Bharat,’ according to Reddy.
