New Delhi, Oct 9 (IANS): India will become a global leader in biopharmaceuticals, bio-manufacturing, and life sciences by 2030, said Dr Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, on Wednesday.

Singh said this while speaking at the sixth CII Pharma and Life Sciences Summit: 2024, held in the national capital on Wednesday.

He commended the country for “emerging as a hub for affordable and high-quality medicines”. India must now also focus on vaccine equity, and technology transfer to boost global vaccination efforts, Singh said.

“The ‘Make in India’ initiative is playing a pivotal role in reducing our dependence on imported Active Pharmaceutical Ingredients (APIs). By strengthening our domestic manufacturing, we are not only bolstering self-reliance but also ensuring critical healthcare supplies are readily available,” the Minister said.

“We now rank third in pharmaceutical production by volume and 14th by value,” he added.

Lauding the pharma industry, Singh said the transition from a generic-focused model to the development of biopharmaceuticals and biosimilars, has been one of the “most remarkable shifts”.

Further, the Minister said the next industrial revolution will come from the biotech sector.

“Thanks to initiatives like the PLI scheme, India is well on its way to becoming a global leader in biopharmaceuticals, bio-manufacturing, and life sciences by 2030,” he said, adding “There is still much to be achieved”.

The development of the world’s first DNA vaccine for COVID-19 and the efforts to develop the first human papillomavirus (HPV) vaccine for adolescent girls, which will prevent cervical cancer exemplified India’s leadership in global health.

India has also significantly transformed health outcomes, especially for low- and middle-income countries, by producing 65 per cent of the world’s vaccines.