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'Namocare' to make India largest drug maker: Union Minister

IANS  |  Bengaluru 

The Central government's 'Ayushman Bharat' health insurance scheme, or 'Namocare' as it is popularly known, would make the largest in the world, said and on Thursday.

Inaugurating the third edition of the 'Pharma 2018 and Medical Device 2018, International conference and exhibition' here, said a new in the offing would ensure effective implementation of 'Namocare', which has the potential to turn India into the largest of the world in the next three years.

"The new policy will pave way for major reforms in the drug price control order and double the market size of the $65 billion Indian pharma and $12 billion medical devices industry over the next five years," he said.

As the world's largest state-funded programme, the National Health Protection Scheme will provide Rs 5 to 10 crore families covering about 50 crore people across the country. Rs 2,000 crore has been allocated in the Union Budget 2018-19 for it.

Calling upon the to support the government in implementing the ambitious scheme, which would have a framework for universal health coverage to provide affordable and for the poor, he said as Namocare will roll out over the next three months, sector and the medical devices industry should expand their capacity to make affordable of global standards to meet the scheme's needs.

Admitting that the mega scheme cannot be implemented in the prevailing fragmented ecosystem of industry, the said the new pharma policy would unify and synergise healthcare sector's components, including the drug price control order, manufacturing, research and development, financing, quality control, and so on.

"and medical devices industry has to take up the Namocare challenge in coordination with the 'Make in India' initiative to ensure health security for all," he said, adding he had given the stakeholders a 3A formula - 'availability, authenticity and affordability without compromising on quality'.

The also discussed with the executives of the pharma and medical devices industry the problems and challenges faced by the sector and exhorted them to find solutions for providing affordable and for all across the country.

Organised by the (DoP) in the and the (Ficci), the three-day mega event with "Affordable and for All in the country' as the theme is being held at the

About 500 delegates from across the country and overseas are participating in the event, while 300 firms and 50 start-ups are showcasing their products and technologies there.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 15 2018. 22:48 IST
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