Centre committed to support pharma sector: Kishan Reddy

Hyderabad: Union Minister for Coal and Mines, G Kishan Reddy, said here on Sunday that the Centre has allocated Rs 15,000 crore to encourage domestic manufacturing sectors. It will extend financial assistance for improving the common infrastructure facilities in the upcoming bulk drug park.

Addressing the 73rd Indian Pharmaceutical Congress, he said the Centre's pharmaceutical technology upgrade assistance scheme helps the pharma sector catch up with global standards.

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

The Centre's initiatives in the health services sector increased the number of medical colleges from 388 in 2014 to 705 to date, registering an 82 per cent increase, he added.

The number of MBBS seats has shown a 112 per cent increase from 51,000 to 1.9 lakh. Also, PG seats in medicine increased by 112 per cent across the country during the same period.

The Union minister said 12 crore families are provided with Rs 5 lakh health insurance cover under the Ayushman Bharat, and the Jana Aushadhi Centre provides medicines cheaper by 50–90 per cent.

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

Recalling the COVID vaccine exports to 94 countries and two UN entities, he said supporting the pharma sector is recognised as part of the Centre's vision for a ‘Viksit Bharat’.