New Delhi, June 23 (IANS) India, which is one of the world’s largest suppliers of generic medicines and a major provider of vaccines and essential drugs, needs to make a quantum jump into manufacturing high-value pharmaceuticals and Active Pharmaceutical Ingredients (API), and there has to be strong Production Linked Incentive (PLI) schemes to achieve this, economists said on Tuesday.Commenting on the NITI Aayog report on pharmaceutical trade that came out on Tuesday, economist Ved Jain told I…
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New Delhi, June 23 (IANS) While India remains one of the world’s largest suppliers of generic medicines and a major provider of vaccines and essential drugs, its global export share in pharmaceuticals and Active Pharmaceutical Ingredients (API) remains modest at 2.8 per cent, indicating scope for expansion amid rising global demand for medicines, biologics, and speciality therapeutics, a NITI Aayog report said on Tuesday.Global pharmaceutical and API import demand is valued at approximately $1…