The country has the capacity to manufacture medicines at competitive prices and given that drugs worth $80 billion (Rs 3 lakh crore approximately) will go off patents within three years, there is a big opportunity for investment in the drug manufacturing sector, Health Minister Ghulam Nabi Azad said on Monday.
“With India’s capacity to manufacture drugs at competitive prices, there is a big opportunity for investment in the drug manufacturing sector. The government has already cleared the desk by streamlining and strengthening the regulatory framework,” said Azad while addressing the opening ceremony of the Zonal FDA Bhavan here.
“Regulatory norms and procedures are being harmonised with the international requirements,” he added.
Azad also invited the Indian corporates to invest in medical education.
Although National Rural Health Mission (NRHM) has added over 15,000 doctors and more than 70,000 nurses in two years, the country is still faced with a shortage of trained manpower at all levels, he said.
The ministry has now decided to recognise medical degrees obtained by doctors of Indian origin from countries like the UK, the US, Canada, Australia and New Zealand. The ministry would also facilitate opening of new medical colleges.