Indian pharma companies an asset to the entire world, asserts PM Modi

Guwahati: Prime Minister Narendra Modi on Thursday said that the Indian pharmaceutical industry is an asset for the entire world mainly because of its "reduced cost of medicines" for developing countries. In a virtual address at India Global Week 2020 he remarked that the pandemic has shown how Indian pharma companies are an asset not just to India, but for the entire world.

"The pandemic has once again shown that India's pharma industry is an asset not just for India but for the entire world. It has played a leading role in reducing the cost of medicines especially for developing countries," the Prime Minister said while speaking at the India Global Week 2020.

He also expressed hope that the country will contribute to the fight against the Covid-19 pandemic globally. Emphasizing the significance of the vaccines produced by Indian pharma firms both in the past and its efforts in the present, Modi said, "Vaccines made in India are responsible for two-third of the vaccine needs of the world's children. Even today, our companies are actively contributing to the international efforts for the development and production of COVID-19 vaccine."

PM Modi, optimistic about the future prospects and the role of India in vaccine production said, "I am certain that India will have an important role in developing and in scaling up production of the vaccine once it is discovered." He went on to call Indians "natural reformers" and said that while the county is focused on people's health, equal focus is directed towards the economy's health as well.

Prime Minister's assertion comes in the wake of the invention of India's indigenous Covid-19 vaccine, Covaxin developed by Bharat Biotech International Limited (BBIL) in collaboration with the Indian Council of Medical Research (ICMR) which has also been cleared for human trials.

The Indian Global Week 2020 is a three-day virtual conference organized in the UK from July 9^th to July 11^th. The decided theme of the conference for this year is 'Be The Revival: India and a Better New World.' A total of 250 speakers in 750 sessions will be addressing 5,000 participants from 30 nations.