Centre committed to supporting pharma sector: Kishan Reddy

Hyderabad: Union Minister for Coal and Mines G. Kishan Reddy said here on Sunday that the Centre has earmarked Rs 15,000 crore to encourage domestic manufacturing sectors. It will provide financial assistance for improving common infrastructure facilities at the upcoming Bulk Drug Park.

Addressing the 73rd Indian Pharmaceutical Congress, he said the Centre’s Pharmaceutical Technology Modernisation Assistance programme is helping the pharmaceutical sector keep pace with global standards.

He said the Centre recognised the strength of the Indian pharmaceutical industry and would provide it all necessary cooperation.

He added that the Centre’s initiatives in the health services sector have helped increase the number of medical schools from 388 in 2014 to 705 currently, an 82 per cent increase.

The number of seats in medical courses increased by 112 per cent from 51,000 to 1.9 lakh. The number of seats in postgraduate medical courses also increased by 112 per cent across the country during the same period.

The minister added that 12 million families are getting health insurance of Rs 5 lakh under Ayushman Bharat and Jana Aushadhi Centre is providing medicines which are 50-90 per cent cheaper.

Reddy thanked Parham Industries for transforming Hyderabad into a pharmacy hub. He said Indian pharmaceutical exports are the fifth largest export, worth Rs 1.83 lakh crore. Of this, 35 per cent of the total exports, Rs 67,000 crore, are sent to the US alone.

Recalling the export of COVID vaccines to 94 countries and two UN entities, he said supporting the pharmaceutical sector is part of the Centre’s vision of ‘Viksit Bharat’.