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- NITI Aayog: India Diversify Oil Gas Sources | China Pharma Dependence | US Trade
New Delhi32 minutes ago
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NITI Aayog on Tuesday released its Trade Watch Quarterly Report on the pharmaceutical industry and global trade. According to the report, India is 65% dependent on China for the raw materials of medicines.
At the same time, NITI Aayog Vice Chairman Ashok Kumar Lahiri said that the lesson learned from the Middle East crisis is that one should not be too dependent on any one country or region. He said that India should develop different sources for its energy needs including oil and gas.
NITI Aayog’s suggestions: Need to promote patents and startups
NITI Aayog has given many important suggestions to reduce this dependence and strengthen the Indian pharma sector.
- Indian companies should no longer be limited to just cheap generic drugs but should enter the high-value pharmaceutical segment with higher prices and higher margins.
- The system of taking the research done in colleges/universities directly to the factories will have to be strengthened, so that medicines and products from new research can come to the market faster.
- To promote new discoveries in medicine and medical field (life-sciences), the process of government rules and approvals will have to be made very clean, easy and transparent.
Bilateral trade agreement with America expected soon
Lahiri said India and the US will soon finalize and sign a bilateral trade agreement. Along with this, he said that NITI Aayog has also suggested in the report that whenever India negotiates a Free Trade Agreement (FTA) with any country or block, a separate chapter on pharmaceutical products must be included in it.
Cost of research on new medicines in India is expensive
Lahiri said that the rules related to environment in India have now become very stringent. Due to this, the cost of manufacturing medicines in factories and doing research (R&D) on new medicines has increased a lot for the companies.
In our country, the system of promoting new discoveries and converting them into business is still weak. Due to this shortage, new and long term investors are scared of investing here.
We are good at drug production, but it is necessary to move ahead in the value chain.
Lahiri said that today India is considered the ‘Pharmacy of the World’ all over the world. NITI Aayog has found in its study that we are doing very well in terms of production of medicines, but now we need to move up in the value chain.
Indian companies have a good reputation in the international market. If Indian pharma companies bring branded products with good quality and right price in the market, then we can have a strong hold on the global market.
India number-1 in providing affordable medicines to the world
India is a major country supplying cheap generic medicines across the world.
- India meets about 50% of Africa’s total generic drug needs.
- 40% of America’s generic medicines are supplied from India.
- Indian companies fulfill 25% of UK’s demand for generic medicines.
Demand for medicines worth ₹123.13 lakh crore in 2025
If we talk about the total business of medicines in the whole world, then in the year 2025, there was a worldwide demand of medicines and their raw materials worth about ₹ 123.13 lakh crore ($1.3 trillion).
- Of this, about ₹96.61 lakh crore ($1.02 trillion) was spent only on purchasing finished medicines (such as tablets, syrups and capsules).
- The remaining approximately ₹24.72 lakh crore ($261 billion) was spent on purchasing chemicals and raw materials that are used in factories to make medicines.
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