Innovation: The Future Lifeline of Indian Pharma

Commerce and Industry Minister Piyush Goyal highlighted the importance of innovation for the growth of India's pharmaceutical industry. He criticized the reliance on government incentives and urged companies to proactively engage in research. Goyal emphasized collaboration with the government and academia, and warned that non-innovators risk obsolescence.

Commerce and Industry Minister Piyush Goyal has issued a stern warning to India's pharmaceutical sector, emphasizing the indispensable role of innovation in fueling growth. Speaking on Saturday, he cautioned that without innovation, the industry faces the risk of stagnation and possible obsolescence.

Goyal criticized the industry's dependence on government incentives for research and development, urging a shift in mindset. He stressed that innovation and quality are critical for survival, and implored the sector to engage proactively in research, leveraging projects in collaboration with the government and academic institutions.

The minister highlighted the potential benefits of adopting best manufacturing practices and called for enforcement against those engaged in unethical production. He urged Indian pharmaceutical manufacturers to innovate, patent, and export, aiming to significantly increase the number of patents filed in the coming years.