India is hailed as the “pharmacy of the world”, with a booming pharmaceuticals industry that has emerged not only as a great source of innovation and employment generation, but it has also as a global healthcare provider in need.
During the critical period of the COVID-19 pandemic, the world continued to depend on Indian vaccine and pharmaceutical manufacturers to get their supply of medications. “Playing the role of Pharmacy of the World, India has delivered medicines to over 150 countries,” said Prime Minister Modi in his address at the G20 Summit, Session I : Global Economy and Global Health.
The Prime Minister is on a visit to Rome, Italy to attend G20 Summit and will also participate in the 26th Conference of Parties (COP-26) titled ‘World Leaders’ Summit along with 120 Heads of States/Governments from around the world from 1-2 November 2021.
One Earth – One Health to the World – India’s call for Global Unity
Speaking at the G20 Summit, Prime Minister Modi reiterated India’s belief in One Earth – One Health’ to the world, a vision that can become a great strength for the world to deal with any such crisis in future.
Emphasising global unity, leadership, and solidarity to prevent future pandemics, PM Modi says that it is the special responsibility of democratic and transparent societies to deal with the challenge.
India has put all its energies into accelerating vaccine research and manufacturing, by helping the nations around the globe while meeting all its domestic demands.
In fact, in a short span of time, India has already administered over one billion vaccine doses. The country has helped in controlling the transmission of infection in one-sixth of the world’s population, which is a significant contribution towards making the world safer and reducing the chances of further mutation of the virus.
India – a reliable manufacturing hub
India is now world-renowned for its pharma innovation and for producing high-quality medicines at a low cost.
Due to its well-established domestic manufacturing base and low-cost skilled manpower, India is emerging as a global hub for pharmaceutical manufacturing and the industry continues to be on a growth trajectory.
The COVID19 pandemic has alerted the world to the need for a reliable supply chain. In this regard, PM Modi says that India has emerged as a reliable manufacturing hub by providing new impetus to bold economic reforms.
“We have further reduced the cost of doing business and increased innovation at every level,” the Prime Minister said addressing the G20 gathering and inviting all the member countries to make India their trusted partner in their economic recovery and supply chain diversification.
PM Modi emphasised that the 15% minimum corporate tax rate will prove to be a vital step in making the global financial architecture fairer.
“The country is preparing to produce more than 5 billion vaccine doses for the world next year,” the Prime Minister announced as India reinstates its commitment to go a long way in preventing the global transmission of Corona.
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