In this episode of the State of Economy Podcast, businessline’s Jyothi Datta speaks with Sudharshan Jain, the Secretary General of the Indian Pharmaceutical Alliance (IPA), as they reflect on the achievements and challenges of India’s pharmaceutical industry in 2024.  

As the world’s pharmacy, India continues to make a global impact, providing medicines to over 200 countries. Jain outlines key highlights of the year, including the country’s progress toward self-reliance in Active Pharmaceutical Ingredients (APIs) and the success of government initiatives like the Production Linked Incentive (PLI) scheme. 

Jain discusses the critical issues such as the need for enhanced quality standards and innovation in the pharmaceutical sector, the ongoing efforts to tackle counterfeit drugs, and India’s role in supplying affordable medicines globally. Jain emphasises the importance of quality control, the introduction of new medical technologies, and the growing role of Indian companies in the development of biosimilars and mRNA vaccines. 

Looking ahead to 2025, Jain shares his perspective on how India can strengthen its export market amidst geopolitical shifts and increasing global demand for affordable healthcare solutions. He also talks about how the pharmaceutical industry can contribute to government programs aimed at improving access to medicines, such as the Janaushadhi Scheme ad Ayushman Bharat scheme and ensuring that healthcare reaches underserved rural areas. 

(Host: PT Jyothi Datta; Producer: Prethicshaa Gurumoorthy)

About the State of the Economy podcast

India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.