Facts for Prelims (FFP)
Source: Economic Times
Context: The Union Minister of Chemicals and Fertilizers and Minister of Health & Family Welfare in India, has launched a significant initiative known as the National Policy on Research and Development and Innovation in the Pharma-MedTech Sector.
- This policy aims to transform India’s pharmaceutical and medical technology industries from being cost-based to becoming value-based and innovation-driven.
Key Highlights:
- Transformation Goals: The need to shift the focus of India’s pharmaceutical and MedTech sectors towards innovation and value creation.
- Ecosystem Building: The policy seeks to establish an ecosystem that fosters skills and capacities, involving academia and the private sector.
- Prioritizing Research and Development: Importance of research and development to achieve self-reliance in pharmaceuticals and medical devices.
- Infrastructure Development: The scheme aims to develop world-class research infrastructure at institutions like NIPERs (National Institutes of Pharmaceutical Education and Research) and other research institutes.
- Focus on Priority Areas: The initiative identifies specific priority areas to enhance India’s pharmaceutical industry’s global position.
- Economic Growth and Employment: The scheme anticipates that the launch of commercially viable products will accelerate the growth of India’s pharmaceutical sector.
- Healthcare Solutions: One of the objectives is to develop affordable and accessible healthcare solutions for primary health concerns, thereby reducing the healthcare burden on the nation.
