The campaign has created a lot of buzz, and has been a topic of discussion at various business meetings
In September 2014, Prime Minister Mr Narendra Modi launched 'Make in India' program, rolling out the red carpet to investors through a string of measures including easier norms and rules aimed at transforming India into a manufacturing hub. BioPharma and Medtech were amongst the 25 sectors that the government has identified that are covered under the Make in India plan. In the recent times, the campaign has created a lot of buzz, and has been a topic of discussion at various business meetings. But has there been any concrete steps to boost this campaign especially in the biopharma and medtech sector? BioSpectrum tries to find out:
Impact of Make in India:
There are some contradictory response to this. Though, some believe that the campaign has failed to meet any expectations, some say it is a move in the right direction.
Speaking for the Medtech sector, Dr GSK Velu, founder and managing director, Trivitron Group of Companies, "There are some significant benefits to this move which will bring down the cost of medical equipment and devices by 30 to 50 per cent and also the uptime of equipment in tier 2/3/4 towns will improve due to easier availability of spare parts. Local production will also lead to additional employment generation, local R&D and local skill development programmes. Moreover, the PM's vision has already attracted some major MNC players are attracted to set up low cost manufacturing units in India to serve emerging market."
The campaign has a positive impact on the generic pharmaceutical firms' feels, but for the biotech sector nothing significant, feels Mr N Venkat, co-founder, Vyome Biosciences.
He said, "Nothing much is yet visible in the PM's Make in India Campaign for the Biosciences/Medtech Industry and the Players. The policies and investment thesis only talks about the increase in investment but concrete plans should be brought to the fore front. There has been a positive effect, though, for the Generic Pharmaceutical Players."