The interim budget announced by Union Finance Minister Nirmala Sitharaman envisions an India that is modern, innovative, resilient, with a strong focus on sustainability and empowerment, as part of the ‘Viksit Bharat’ vision, according to Satish Reddy, Chairman, Dr. Reddy’s Laboratories Ltd.

“Its emphasis on ease of doing business and local manufacturing are welcome. In particular, the ₹1 lakh crore R&D allocation for sunrise sectors can potentially act as a catalyst in our innovation journey, as the Indian pharma industry aims to reach $120-130 billion by 2030,’‘ Reddy said.

Apart from innovation, there is a welcome impetus for green initiatives (such as the new scheme for bio-manufacturing and bio-foundry to transform the current consumptive manufacturing paradigm), as well as empowerment and inclusion such as the cervical cancer vaccine for girls aged 9-14, extension of the Ayushman Bharat scheme to ASHA and anganwadi workers, and women in STEM, he added.