Mr. Nikkhil K Masurkar, CEO, Entod Pharmaceuticals
“As a pharmaceutical company, we anticipate a favorable environment in the Union Budget 2024-25, with a heightened focus on bolstering research and development (R&D) in the sector. The government’s commitment, as demonstrated through the recent policy launched in September, underscores a strategic shift towards positioning India as a high-value player in the global pharmaceutical market. The allocated capital outlay of Rs 5,000 crore, with a dedicated budget of Rs 4,250 crore for research in priority areas, reflects a strong financial commitment to fostering innovation in pharmaceuticals. We look forward to continued government support, expecting these initiatives to enhance the R&D capabilities of the $50-billion pharma sector, contributing to sustained growth and global competitiveness.
With the pharmaceutical industry ranking as the world’s third-largest by volume, the potential growth trajectory of reaching $120-130 billion over the next decade is contingent on sustained innovation and discoveries. The inclusive financial assistance for entities of varying sizes, from large corporations to startups collaborating with government institutes, signals a comprehensive approach to supporting research endeavors. As we await the budget announcement, we remain optimistic that the proposed measures will further catalyze research and development, positioning the industry for a value-led future growth trajectory”.–
