Union Minister Dr. Jitendra Singh emphasized at the Confederation of Indian business (CII)-hosted “Global MedTech Summit 2024” that India is becoming a major participant in the pharmaceutical business and a top worldwide destination for affordable healthcare. Speaking at the summit, which took place at the Hotel Le Meridian, Dr. Singh focused on how Prime Minister Narendra Modi’s leadership has transformed the Indian healthcare system. Modi has established the vision for a healthier India by eradicating communicable diseases, preventing non-communicable diseases, and raising health indicators.
Dr. Singh pointed out that India carried out the biggest COVID-19 immunization campaign globally, demonstrating the Modi government’s dedication to universal access to healthcare as a basic human right. He also talked about the growing number of metabolic problems and the difficulties brought about by new diseases that are developing as a result of longer life spans. The Minister, an endocrinology and medical professor, brought attention to the rising rates of diseases including Type 2 Diabetes Mellitus and early-life heart attacks that are now striking younger people. He cautioned that these health issues pose a threat to India’s youth potential, which is essential to the nation’s growth and the achievement of its 2047 ambition.
Dr. Singh promoted improved public-private partnerships (PPP)—what he called “PPP + PPP” collaboration—both domestically and abroad. He emphasized the value of these collaborations in enhancing knowledge resources as well as financial resources. He gave the space and biotechnology industries in India as examples, where both the amount of private investment and the number of entrepreneurs have grown significantly. For example, the opening up of the space sector resulted in over ₹1,000 crore in private investment and over 200 firms now, some of which have global potential, compared to just one in 2022.
The Minister also highlighted India’s standing as one of the top six biomanufacturers globally, a reputation for efficiency and affordability. In addition to highlighting the notable increase in bio-manufacturing from $10 billion in 2014 to $130 billion in 2024, he cited the Biotechnology Industry Research Assistance Council (BIRAC) as a crucial forum for industry linkage and research.
According to Dr. Singh, the manufacturing of medical devices is one of India’s “sunrise sectors,” and the government is working hard to establish the nation as a global center for this industry. He emphasized how technology is transforming healthcare, especially when it combines machine learning (ML) and artificial intelligence (AI). He maintained that these technologies are critical to raising overall healthcare delivery, decreasing wait times, and increasing efficiency. But he also said, based on his experience with CPGRAMS and telemedicine, that human interaction is necessary to complement AI.
Strong ties between business, academia, research, and entrepreneurship are needed, according to Dr. Singh, to promote teamwork in realizing the goal of a healthy India by 2047.
SOURCE:
MEDICAL DIALOGUES
