Union minister For Chemicals and Fertilizers Shri DV Sadananda Gowda on October 1, 2020 that Pharma sector is likely to grow in to 65-billion-dollar industry by 2024 and to 120 billion dollars by 2030 and Medical Devices industry to reach US $ 50 Billion by 2025.
- Indian Government is supporting development of three Bulk Drug and four Medical Device Parks with State of Art Infrastructure and world class Centres of Excellence across the country. Government will also provide Production Linked Incentives (PLI) to eligible new manufacturing units to ensure level playing field to domestic manufacturers.
- Being a net importer, India became second largest producer of PPE Kits in the world with daily production capacity surpassing more than 5 lakh per day.
- Within a very short span of time, indigenous production capacity of ventilators has increased to 3 lakh per annum.
- India have also achieved self-sufficiency in production of N-95 masks.
