India is manufacturing ventilators today, to MRI machines, before 2028

Union Home Minister and Minister of Cooperation Shri Amit Shah attends the PharmaInnova Awards Ceremony-2026, organised by Troika Pharmaceuticals, as the Chief Guest in Ahmedabad, Gujarat. India must not only become self-reliant in the field of medicines but also ensure that Made-in-India medicines reach every part of the world.

The Indian pharma sector is a national strategic asset for India, and it must not be diluted, therefore, the Modi Govt is promoting research and innovation in the pharma-medtech sector through the PRIP scheme.

1. Vision 2047 & Economic Growth

• Under PM Narendra Modi's vision, India aims to become the world's top economy by 2047 while excelling in security, education, and preserving civilisational values.

• India moved from the 11th largest economy in 2014—previously classified among the "Fragile Five"—to the 4th largest economy today.

2. Strengthening the Pharma & MedTech Ecosystem

• National Strategic Asset: The Indian pharma sector is critical for national self-reliance and global supply chains.

• Research & Innovation (PRIP Scheme): The government is driving R&D via the Promotion of Research and Innovation in Pharma-MedTech (PRIP) scheme. Companies are urged to support meritorious researchers and students.

• India aims to manufacture all medical devices locally—from basic bandages to high-end MRI machines and ventilators—before 2028.

• Reducing Foreign Dependence: Initiatives like the Production Linked Incentive (PLI) schemes, Bulk Drug Parks, and Medical Device Parks aim to strengthen local supply chains for Active Pharmaceutical Ingredients (APIs) and Key Starting Materials (KSMs), actively breaking single-country market dominances.

• Over ₹42,700 crore in investments have been realized under these initiatives, contributing to drug exports exceeding ₹3.64 lakh crore.

3. Holistic Healthcare & Preventative Public Health

• Addresses patient care, health infrastructure, medicines, R&D, and manufacturing simultaneously.

• Sanitation access expanded significantly (toilet coverage grew from 1.8 crore to 13 crore households; tap water expanded to 16 crore households), drastically reducing disease burdens.

• Ayushman Bharat: Provides health coverage up to ₹5 lakh per family for nearly 70 crore citizens. Over ₹1.60 lakh crore has been invested in expanding rural health infrastructure.

4. Youth, Innovation & Resiliency

• Highlighted youth achievements in space, including launching private satellites at a cost 22 times lower than in the U.S.

• Pandemic Resilience: Demonstrated indigenous R&D through the rapid deployment of Covaxin and Covishield, exporting vaccines to 70 nations, and transforming India into a net exporter of PPE kits and N-95 masks.

• Core Philosophy: Success requires overcome self-doubt and maintaining the courage to move forward fearlessly despite failures.