New -Delhi, May 18 (IANS). The pharmaceutical sector of the country has made a new and strong identity worldwide with economic, innovative and incarnated in the last ten years. Jan Aushadhi Yojana and Pli have a significant importance in it. This increase is also expected to continue in the current financial year. Experts at the India Ratings of Fitch Group estimate that the revenue of this sector will be recorded by 7.8 percent year -on -year in April 2025 due to strong demand and new products. The central government’s letter information office, citing the recently released report of India ratings in a background released on Sunday, said that the country’s drug industry is third in terms of quantity worldwide and 14th place in terms of value. The country is the largest supplier of generic medicine. The interest in global supply is 20 percent. India is also an important provider of affordable vaccines. The business of this region has continuously increased at the annual rate of more than 10 percent for the past five years to Rs 4,17,345 crore in FY 2023-24. The government’s smart schemes have become the basis of this success. 15.479 Jan Aushadhi Kendras is operated under Prime Minister Bharatiya Jan Aushadhi Project (PMBJP). These centers have generic medicines available at 80 percent lower price than brand medicine. Under the production -based incentive (PLI) scheme of Rs 15,000 crore for pharmaceutical products, the government helps 55 projects for the production of other lifestyle medicines, including cancer and diabetes in the country. In addition, another PLI scheme to the value of Rs 6.940 crore focuses on raw materials such as Penicillin G, which reduces our need for imports. Pli with the help of Rs 3,420 crore for medical equipment promotes the production of equipment such as MRI machines and heart transplant. There is a plan to promote bulk drug parks at a cost of Rs 3,000 crore to build a mega hub in Gujarat, Himachal Pradesh and Andhra Pradesh, so that the production of drugs is cheaper and early. There is a plan of Rs 500 crore for strengthening the pharmaceutical industry (SPI). In addition, India’s pharmaceutical sector produces 55-60 percent vaccines from Unicef. It meets who is 99 percent demand to DPT (diphtheria, kink cough and tetanus) vaccine, 52 percent of BCG and 45 percent of the measles. Bacillus Calmet-Guerin is a vaccine mainly used for the treatment of TB. He talked about foreign investors and invested Rs 12.822 crore alone in 2023-24, showing the growing potential of the country. The government welcomes 100 percent foreign investment in medical equipment and Greenfield Pharma projects, making India a center of attraction for global businesses. -Ians skt/abm/aquet
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