PM Modi addresses Post Budget Webinar on Health and Medical Research

Making medical treatment affordable has been the top priority of our government. Today the market size of the pharma sector is 4 lakh crores. It can be worth 10 lakh crores with proper coordination between the private sector and academia, said PM Modi.

Prime Minister Narendra Modi addressed a Post Budget Webinar on the subject of ‘Health and Medical Research’. It is the ninth of a series of 12 post-budget webinars organized by the government to seek ideas and suggestions for effectively implementing the initiatives announced in the Union Budget 2023.

He said that health care could be seen in terms of pre and post-Covid pandemic systems. The pandemic tested even prosperous nations. He pointed out, as the pandemic focused the global attention on health, India went a step further and focused on wellness. That is why we have put forward a vision before the world - One Earth One Health. This involves holistic healthcare for all creatures -humans, animals or plants. 

He asked the participants to find ways of industry-academia and government collaboration. 

Highlighting the growing confidence of the world in the pharma sector of India, he emphasized the need to capitalize on this and work towards protecting this image. He said a new programme is being launched to boost research and innovation in the pharma sector through centres of excellence which will strengthen the economy as well as create new opportunities for employment. “The market size of the pharma sector in India is 4 lakh crores today”, the Prime Minister said. 

He stressed the need to find coordination between the private sector and academia as it has the potential to grow the market size beyond 10 lakh crores. The Prime Minister suggested the pharma sectors identify important areas for investment. Highlighting the several steps taken by the government to further research in this sector, the Prime Minister informed that many new labs by ICMR have been opened up for the research industry. 

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