Mr. Yogesh Mudras, Managing Director, Informa Markets in India emphasizes on the need for sustainable investments in Research & Development in Pharma sector along with conducive tax policies.
Emphasizing on the significance of the upcoming 2024 Budget for the Pharmaceutical sector, Mr.Yogesh Mudras, Managing Director, Informa Markets in India,highlighted “As we look forward to the 2024 Budget, it is crucial to enhance progress in Life Sciences innovation and Research & Development.
The ambitious goals set by the Indian Pharma sector, aiming for a market size of $120–130 billion by 2030 and an astounding $400-450 billion by 2047, highlights the need for sustained investments in research, given the challenges of high risk and low success rates. In the upcoming Interim Budget 2024-25, we look forward to conducive policies in direct and indirect taxes, fostering a business-friendly
environment for pharma industry. The positive stride made with the announcement of the Promotion of Research & Innovation Program (PRIP) Scheme in 2023 reflects a commendable step towards igniting innovation. At Informa Markets in India, through flagship events like CPhI & P-MEC in India, we remain dedicated to providing an influential platform that nurtures growth and collaboration within the pharmaceutical industry.”
