India‘s pharmaceuticals industry is the third largest by volume and the 13th largest by value in the world producing more than 60,000 generic drugs across 60 therapeutic categories, stated Minister of State (MoS) for Chemicals and Fertilizers, Bhagwant Khuba.
The statement from the minister came as a written reply on questions relating to the consumption of generic drugs in the last five years.
The reply also included the annual turnover of Indian pharmaceutical sector during the last five years. The turnover for FY22 stood at Rs 3,44,125 crore.
The two PLIs include PLI scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates (DIs)/ Active Pharmaceutical Ingredients (APIs) with an outlay of Rs 6,940 crores and PLI scheme for Pharmaceuticals with an outlay of Rs 15,000 crore.
“Further, in order to provide quality generic medicines at affordable prices to all citizens, especially the poor and the deprived ones, Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) has been launched,” the minister stated in his reply to the question relating to government’s steps for providing affordable and quality medicines to the general public.
The government had announced the PLI scheme in 2021 for as many as 14 sectors, such as telecommunication, white goods, textiles and pharma with an outlay of Rs 1.97 lakh crore.
Of the 14 sectors, the scheme is fast picking in eight sectors – large-scale electronics, telecom, pharmaceuticals, food processing, white goods, and auto and auto components.
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