‘Vision 2020’ to make India innovation hub

DNA Correspondent. Ahemedabad

In a bid to make India one of the top five global pharmaceutical innovation hubs by 2020, the department of pharmaceuticals has sought prime minister Manmohan Singh’s approval for launching an initiative entailing an investment of about $1-2 billion annually until 2020. The department submitted this proposal in February.

“Our endeavour is to make India a global pharmaceutical innovation hub by 2020 to provide low-cost healthcare for life threatening diseases. The programme which would generate more than 5,00,000 jobs would need an investment of about $1-2 billion annually until 2020. This would ensure around Rs 1,00,000 crore additional GDP contribution to the economy,” said Ashok Kumar, secretary, department of pharmaceuticals.

Global consultancy firm McKinsey helped in formulating the entire programme on which work would begin following receipt of the PM’s approval. Kumar added that there is every likelihood that one out of every 5-10 drugs discovered by 2020 will be discovered in India. The department would be involved in building infrastructure for talent and research.