Topic: Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth.
6. India is a significant player in the global medicines industry. In addition, the country holds a large number of scientists and engineers that can propel the sector forward to even greater heights. Analyse. (250 words)
Difficulty level: Moderate
Reference: ibef.org
Why the question:
The question is part of the static syllabus of General studies paper – 1.
Key Demand of the question:
To write about the strengths and weaknesses in the pharmaceutical industry and to suggest adequate measures to address the issues.
Directive word:
Analyse – When asked to analyse, you must examine methodically the structure or nature of the topic by separating it into component parts and present them in a summary.
Structure of the answer:
Introduction:
Begin by highlighting the extent of pharmaceutical industry in India.
Body:
First, mention the potential of pharma industry – India is the largest provider of generic drugs globally. Indian pharmaceutical sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK. Globally, India ranks 3rd in terms of pharmaceutical production by volume and 14th by value.
Next, write about the limitations.
Next, give a point by point analysis of major areas of reforms needed such as revising the age old The New Drugs, Cosmetics and Medical Devices Act, need to bring in a regulatory structure in the context of e pharmacy and teleconsultations, better clarity in the issue of Licenses as per Drugs and Cosmetics Act (DCA) of 1940 etc.
Conclusion:
Conclude by saying that India should focus on a comprehensive, clear and concise regulatory structure meeting the needs of the new age pharmaceutical industry.
