Speaking at the 14th Annual BioPharma and Healthcare Summit, he said India is now gearing up for innovation in its pharmaceutical ecosystem focusing on speedy and scaled up delivery of new vaccines and personalised medicines.

He said India has launched a new scheme to boost production of active pharmaceutical ingredients that are greatly dependent on the Chinese supply chain. “We are planning to do complete manufacturing in India,” he said at the recently-held virtual summit organised by the USA-India Chamber of Commerce.

The summit was attended by major players from the US pharma sector, whose combined annual R&D budget is over $45 billion.