Jagdish sheth school of management, Business school in Bengaluru, India

New Delhi [India], May 27 : Union Health Minister Mansukh Mandaviya on Saturday said the pharma and medical device sector needs "to focus on quality and affordable manufacturing with an increased focus on research and innovation".The minister was chairing a roundtable meeting with the leading chief executive officers of the pharmaceutical industry in the country on the second day of the 8th International Conference on pharma and medical device sector.Lauding the growth momentum of the industry, he said "The industry is progressing at a rapid rate, and to maintain our stature as the 'Pharmacy of the World', we need to focus on quality and affordable manufacturing with an increased focus on research and innovation". S Aparna, Secretary, Department of Pharmaceuticals, was also present.Mandaviya urged the stakeholders to capitalise on the current opportunities, stating "substantial investment in terms of production-linked incentive (PLI) schemes as well as upcoming drug parks are bearing fruitful results. To catalyse growth, we must maintain a degree of competitiveness to consolidate our presence in the world."Reiterating the government's commitment and resolve, the Union health minister said "the government is industry-friendly and welcomes opportunities for collaboration. The government and industry, both integral to the nation's progress, must work cohesively to achieve holistic growth," according to a statement from the ministry of health and family welfare on Saturday.Affirming government support, Mandaviya invited the stakeholders to put forth their suggestions addressing the aspects of pricing, regulatory, policy and strategy, with the respective action points in a detailed presentation and due consideration will be given to facilitate further policy support and growth.Underscoring the potential future growth, Secretary S Aparna urged the attending representatives to collate and collectively represent their perspectives adhering to the aforementioned four categories to facilitate policymakers and the government in fostering a stronger ecosystem for all.The roundtable brought together participants from over 60 companies represented by senior leadership, with several key players having a presence in the national as well as international markets.N Yuvaraj, Joint Secretary, Department of Pharmaceuticals; Awadhesh Kumar Choudhary, Senior Economic Advisor; Vinod Kotwal, Member Secretary, National Pharmaceutical Pricing Authority (NPPA); Rajeev Raghuvanshi, Drugs Controller General of India; Kamlesh Pant, Chairman, NPPA and various industry stakeholders and representatives of academia and associations were also present in the conference.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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