India, New Zealand to continue their cooperation in healthcare sectors
India pharmaceutical industry is growing its presence globally, and it ranks 3rd worldwide for production by volume. Being the emerging center for medical services, devices and diagnostics, the news of both countries, New Zealand and India agreeing to strengthen the cooperation in healthcare sectors, will prove to be a positive step. India aims to work towards Pharma Vision 2020.
The review meeting analyzed India and New Zealand’s progress under the agreement on food security and safety. Discussing the progress, Minister of State for Health and Family Welfare Ashwini Choubey and New Zealand’s Agriculture and Biosecurity Minister Damien O’ Connor, underlined the growth marked by India’s pharma industry. The industry in recent years has played a key role in driving better health outcomes by increasing the accessibility to affordable drugs and producing high-quality generic drugs by lowering India’s disease burden.
During the meeting, Mr. Choubey, discussed the different initiatives and highlighted the program “Ayushman Bharat” which was announced by the government in order to achieve Universal Health Coverage. The schemes under the initiative of Ayushman Bharat Yojana aims to benefit the vulnerable sections by changing the country’s healthcare landscape. The meeting also covered the recent developments in the healthcare industry and the increasing importance of generic medicine.
India is home to 3,000 pharma companies and source of 60,000 generic brands, with a market turnover of approximately $18.12 billion the pharma industry is on the rise. The agreement from both the sides on continuing the agreement is expected to develop the health care sector even further. Mr. Choubey, also pointed out that drugs from India are exported to more than 180 countries. Tracing the developments in the sector, the FDI inflow is recorded to be $2 billion through the pharma industry and over 2.7million jobs have been created directly and indirectly. The news is an affirmation on the vision of establishing India as a global leader in life sciences and healthcare.