Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman emphasizes the need for adopting a micro containment strategy in dealing with the second surge of the pandemic. The FM said that, unlike last time, India now has important tools such as vaccines and medicines, to deal with the pandemic.
Sitharaman while addressing more than 150 senior industry captains in a virtual interaction organised by the Confederation of Indian Industry (CII), spoke about the phenomenal increase in demand for medical oxygen, a critical treatment tool for COVID-19. Also, the production of Remdesivir was discussed as well.
FM has assured seamless supply of oxygen equipment to States. She said that the government is taking include importing medical oxygen, round the clock working of the oxygen filling stations and allowing containers used for nitrogen and argon to be used for oxygen.
On Remdesivir, the FM highlighted Government initiatives to help ramp up the capacity of Remdesivir from 36 lakh vials per month to 78 lakh vials per month. She said that some of these measures include rapid clearances for new capacities, stopping exports, stopping the exports of APIs and formulations used in the manufacture of this life-saving drug, and allowing EoUs and manufacturers located in SEZs to also sell in the domestic market.
Notably, the Centre has also cleared an advance payment of Rs4,600cr to Serum Institute of India and Bharat Biotech, to help them ramp up capacities.
Also, in the meeting, Uday Kotak, President CII and Managing Director & CEO, Kotak Mahindra Bank Limited in his opening remarks lauded the speed of the Government’s policy action, for tackling the COVID-19 pandemic, over the last 72 hours.
Kotak emphasised the importance of vaccination and doing whatever it takes to ramp up vaccination. He also emphasised ensuring adequate supplies of oxygen, medicines and beds in the immediate term.
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