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View: India’s pharma industry needs innovation-promoting and smart regulation to up its game

Agencies

Reform of regulation and of the review process pertaining to new drug development can go a long way in encouraging and sustaining research in new drug discovery.

Synopsis

The Indian pharmaceutical industry is a fine example of how such investment in R&D, combined with supportive public policy, has created global players. However, the pharma, biology and healthcare industry needs a public policy framework that will support private investment in R&D and innovation to maintain India’s pre-eminent position in this sector.

By Habil KhorakiwalaThe ongoing Covid-19 pandemic and the global race to develop a reliable vaccine, with attendant concerns about ‘vaccine nationalism’, reinforce the importance of investing in domestic research and development (R&D). Prime Minister Narendra Modi recognised the strategic importance of promoting indigenous innovation and entrepreneurship when he set up the Atal Innovation Mission (AIM).The cornerstone of an Atmanirbhar

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