NITI Aayog Member VK Saraswat Bats For An Independent Ministry For Pharmaceutical Sector

In a bid to expand and consolidate the efforts for the growth and development of India's booming pharmaceutical sector, NITI Aayog's member VK Saraswat has called for the creation of a dedicated and independent ministry, reports Economic Times.

“There is a need for creating an independent ministry for pharmaceuticals. Time has come to expand and consolidate efforts in the pharma sector,” Saraswat said on Monday.

Speaking at the Global Bio-India 2021 event, jointly organised by the Confederation of Indian Industry, Association of Biotechnology Led Enterprises and Invest India, Saraswat pushed that as India gears up to lead the world, there is a need for more viral institutes in the country, simplification of the regulatory system and upskilling India’s existing workforce to make a readily available talent pool for the sector.

Saraswat emphasised that India needs a targeted regulatory regime, investor-friendly environment, innovative model of land acquisition, expansion of India’s skilled workforce and upskilling the existing workforce.

Saraswat also pressed on the need for India to achieve self-reliance in the production of active pharmaceutical ingredients (APIs) and spoke in the favour of restarting the old API manufacturing units in the nation.