India is being called 'Pharmacy of the world': PM Modi on global trust in health sector

New Delhi: Prime Minister Narendra Modi on Thursday lauded the healthcare sector in the country and said that global trust earned by the Indian healthcare sector has led to India being called the "pharmacy of the world".

Prime Minister Narendra Modi inaugurated the First Global Innovation Summit of the Pharmaceuticals sector today via video conferencing.

Speaking at the summit, PM Modi said, "Whether it is lifestyle, or medicines, or medical technology, or vaccines, every aspect of healthcare has received global attention over the last two years."

"In this context, the Indian pharmaceutical industry has also risen to the challenge. The global trust earned by the Indian healthcare sector has led to India being called the 'pharmacy of the world' in recent times," PM said.

The Prime Minister said that India also exported more than 65 million doses of Covid vaccines to nearly 100 countries this year

"Our definition of wellness is not limited by physical boundaries. We believe in the well-being of the entire humankind. And, we have shown this spirit to the whole world during the Covid-19 global pandemic," he said.

"We exported lifesaving medicines and medical equipment to over 150 countries during the initial phase of the pandemic. We have also exported more than 65 million doses of Covid vaccines to nearly 100 countries this year," PM Modi added.

The Prime Minister's office informed that Global Innovation Summit is a distinctive initiative that aims to bring together key Indian and international stakeholders from the government, industry, academia, investors, and researchers to discuss and strategize priorities to foster a thriving innovation ecosystem in the pharmaceuticals industry in India. It will also highlight the opportunities in the Indian pharma industry that has huge growth potential.

The two-day Summit will have 12 Sessions and over 40 national and international speakers deliberating on a range of subjects including the regulatory environment, funding for innovation, industry-academia collaboration, and innovation infrastructure.

It witnesses the participation of leading members from domestic and global Pharma Industries, officials, investors and researchers from Massachusetts Institute of Technology, John Hopkins Institute, IIM Ahmedabad and other eminent institutes.