India's life sciences industry has the potential to become USD 200 bn industry, neutralise 15% of energy imports & create additional 4 mn jobs in the country: FICCI Vision 2030 report released by health minister, JP Nadda and FICCI president, Ms Jyotsna Suri.
FICCI believes that by achieving this Vision 2030, the industry will continue making significant contribution to the economy and healthcare outcomes:
∎ Industry will sustain its growth trajectory of 11 to 12 percent and grow 7 to 8 times to a size of $190 billion to $200 billion, driving 5 to 6 times growth in trade balance contribution to around $55 billion to $60 billion, reduction in energy imports and will also create nearly four million new jobs for the country over the next 15 years by the year 2030.
∎ Will help India becoming the world's largest and most reliable drug
∎ Providing every Indian access to high-quality, affordable drugs by adopting innovative models and government support, the industry can aspire to drive a 3-4 times increase in the number of treated patients across disease areas.
∎ Building a global position for India in the innovation space and driving significant economic upside (exports of around $16 billion to $18 billion by 2030).