The Commerce Secretary, Rajesh Agrawal, stated that the government is focused on minimizing disruptions to supply chains amidst global uncertainties. Speaking at a press conference during a ‘Chintan Shivir’ session in Hyderabad, Agrawal highlighted the initiative’s goal of uniting government and industry stakeholders to address challenges and devise a strategic plan. Emphasizing the importance of sustaining pharmaceutical exports growth, Agrawal mentioned that the efforts align with Prime Minister Narendra Modi’s vision to define roles and responsibilities through consultations.
India is prioritizing its leadership in areas like biosimilars, biologics, and innovative drugs to ensure the resilience of both export and import supply chains against external shocks. With the pharmaceutical industry valued at over $60 billion, it plays a significant role in exports and global healthcare supply chains. Agrawal acknowledged the potential impact of the Middle East crisis on energy supply chains but expressed confidence in the industry’s adaptability. He reassured that India’s robust industry can overcome challenges, maintaining stability in supplies without immediate price impacts.
The government, under PM Modi’s leadership, remains vigilant about emerging challenges and is committed to collaborating with industry stakeholders to safeguard supplies. In response to the evolving situation in West Asia, PM Modi recently chaired a meeting to assess its implications on India’s national interests. Tensions escalated following US-Israel airstrikes on Iranian targets, leading to disruptions in the region and volatility in global energy markets.
