With India emerging as favorite destination for foreign investors, exports skyrocket
India continues to establish itself as the pharmacy of the world as exports swell by 103% since 2013-14. The pharmaceutical industry is now being urged to work toward becoming the healthcare custodian of the world by adhering to good manufacturing practices, reports The Pharma Letter’s India correspondent.
Mansukh Mandaviya, India's Minister for Health, said foreign investors in the pharmaceutical sector have found the country’s drug industry an attractive destination after the coronavirus pandemic accelerated its growth. Over the course of 2020-21, foreign direct investment (FDI) in the pharmaceutical sector increased by 200%.
The crisis triggered by COVID-19 has brought renewed attention to India’s pharmaceutical industry, said Mr Mandaviya.
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