Vaccine exports will grow with rise in production of Covid shots: PM Modi

WHO setting up Global Centre for traditional medicines in India

Exports of vaccines would grow as India ramps up production capacities of Covid-19 vaccines, Prime Minister Narendra Modi said on Thursday.

Speaking at the Global Innovation Summit 2021 organised by the Indian Pharmaceutical Alliance, an umbrella body of leading drug makers of the country, Modi said, “We exported life-saving medicines and medical equipment to over 150 countries during the initial phase of the pandemic. We have also exported more than 65 million doses of Covid vaccines to nearly 100 countries this year. Over the coming months, as we ramp up our vaccine production capacities, we will do much more.”

He also dwelt on the growing acceptance and demand for India’s traditional medicines in the global market. “There is now significant and growing demand for these products (traditional medicines) in the international market. This can be seen through the sharp rise in exports of these products in recent years. In 2020-21 alone, India exported herbal medicines worth over $1.5 bn. The World Health Organisation (WHO) is also working to set up its Global Centre for Traditional Medicines in India,” he said.

Dubbed the ‘pharmacy of the world’ the Indian pharma industry employs 3 mn people and generates a trade surplus of about $13 billion. “Since 2014, the Indian healthcare sector has attracted over $12 billion in Foreign Direct Investment. And, there is still potential for much more,” Modi said.

He highlighted that the industry has got a major boost through the Production Linked Incentive (PLI) schemes worth over Rs 30,000 crore for the pharmaceuticals and medical devices.

“…To make India Aatmanirbhar, we must think about ramping up domestic manufacturing of key ingredients for vaccines and medicines. This is one frontier that India has to Conquer. I am sure that investors and innovators are keen to work together to overcome this challenge as well,” he said.

Industry leaders speaking at the summit also highlighted the need to develop an ecosystem of innovation.

Samir Mehta, chairman, Torrent Group and president of the IPA said  that Improving access to funding for R&D and promoting industry- academia collaboration for innovation and infrastructure development. His peer Pankaj Patel, chairman of Cadila Healthcare added: “We have a significant share in the generic market, but we have to go a long way into the innovative space, which accounts for 65 percent of the global pharmaceutical industry.”  

The Indian pharmaceutical industry is poised to take a big leap in this decade eying $130 bn size by 2030, Patel said.

Meanwhile, V K Paul, member, health, NITI Aayog pointed out that Indian industry needs to build more rigour in the areas of clinical research, especially in the clinical trial arena.

Saying that some drug trials have been ‘poorly conducted’ Paul said that the vaccine trials in India have been very well done and are of the ‘highest order’.

“We need high quality clinical trial researchers in the ayush systems – to have blinded studies, measurement of outcomes, eliminate biases etc. We need to create capacity in this area,” he added.