Chairing the BioAsia 2020 CEO Conclave in Hyderabad, Union Minister Piyush Goyal said that the goal of USD 5 trillion economy needs to have the happiness of the people at its core.
"The USD 5 trillion economy also has as its leg, a very important component of happiness of the people of India. One must recognize there are several dimensions to India. The power of India is defined as the power of democracy, demography, talent, leadership, and opportunity," Goyal said at the event moderated by Telangana IT Minister KT Rama Rao.
"The speed in which India is offering intellectual property protection has significantly been ramped up. We are looking to ensure that our applications get cleared faster than anywhere else in the world," he added.
The Union Minister further urged the states to work together with the Centre for timely resolving the issues faced by the entrepreneurs.
Speaking about price controls in India, Goyal said, "Price control has worked immensely in India. Looking at two of the medical devices, knee implants and heart stents, the volume of operations have grown drastically. People in India can now afford the procedure."
"Price controls are here to stay. They are needed in an emerging economy, an economy which is trying to take healthcare to the vast masses, who were earlier remaining untreated," he added.
( With inputs from ANI )