Indian pharmacy will be contributing more not just for domestic needs; but will also cater to global demand, Union Minister for Health, Family Welfare, Chemicals and Fertilisers, Mansukh Mandaviya, said on Friday.

According to the Minister, Indian pharmaceuticals is an emerging manufacturing hub that has seen phenomenal progress with the implementation of production linked incentive schemes and investments for medical drug parks.

“Our competitive advantage over other nations continues to be price competitiveness and quality,” Madaviya said at the inauguration of the 8th International Conference on Pharma and Medical Device Sector.

He further added, for India to remain being the ‘Pharmacy of the World’, there can be no laxity with the quality of pharmaceutical products’.

“Our products should also be affordable and competitive in the global market,” Mandaviya said.

Pointing out that the Centre is “committed to supporting the sector” with industry-friendly policies and an ecosystem that promotes investors into the sector, he urged for a focus on the investments in research and development, and building efficient manufacturing capacities.

Also unveiled the programme was the National Medical Devices Policy 2023. Mandaviya also launched the Export Promotion Council for Medical Devices.