New Delhi, Sept 25 (KNN) Dr. Mansukh Mandaviya, Union Minister of Chemicals and Fertilisers and will unveil the National Policy on Research and Development and Innovation in Pharma-MedTech Sector in India and Scheme for promotion of Research and Innovation in Pharma MedTech Sector (PRIP) on September 26.

Bhagwanth Khuba, Union Minister of State for Chemicals and Fertilisers and Renewable Energy and Dr V.K. Paul, Member, NITI Aayog will be present during the launch programme in New Delhi.

The event will be organised by Department of Pharmaceuticals at India International Centre.

The National Policy on Research and Development in the Pharma-MedTech Sector in India can potentially help in growing the sector to USD 120-130 Billion over the next decade, increasing its contribution to the GDP by about 100 basis points, said the Ministry of Chemicals and Fertilizers.

The policy aims to encourage R&D in pharmaceuticals, including traditional medicines & phytopharmaceuticals and medical devices.

It acknowledges the need for greater emphasis on encouraging R&D, through indigenously developed cutting-edge products and technologies upon three focus areas, namely, strengthening the regulatory framework, incentivising investments in innovation and creating a facilitatory ecosystem for innovation.

The event will see active participation from other dignitaries, including policymakers, experts from the healthcare sector along with representative from academia, think tanks, industry and media.  (KNN Bureau)