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We believe that implementing a fresh PLI scheme for vaccines and biopharmaceutical raw materials is vital now to put the focus back on value-added domestic production with India-for-India and India-for-the-world production. This would stimulate new investments in both R&D and production initiatives.
The government has also introduced schemes to promote medical device parks and bulk drug parks with financial grants across different Indian states. million nurses/midwives in the total stock by 2030. A recent WHO report estimated a shortage of about 1.8 million health workforces in India and suggests that to meet the threshold of 34.5
Vaccines, which typically require years of development, were birthed in a mere 12 months, proving that necessity is the mother of invention, and possibly a rather impatient mother at that. The industry, valued at $220 billion, is expected to reach $300 billion by 2030 and potentially $1 trillion by 2040.
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