Kanpur, Feb 23 (KNN) The Uttar Pradesh pharmaceutical industry has applauded the state government for allocating Rs 20 crore for research and development in the budget announced on Wednesday.

According to Atul Seth, Senior Vice President of the Provincial Industries Association and General Secretary of the Pharmaceuticals Manufacturer Association, the inclusion of provisions for research and development is an extremely positive and forward-thinking move for the pharmaceutical industry, according to a report in the TOI.

“This investment will undoubtedly be beneficial not only for the state but also for the future of the country,” he said.

Seth also pointed out that the government's prioritization of pharmaceutical research is an encouraging development. He believes that this strategic investment will strengthen the country's position in the global market, and enable the pharma industry to compete more effectively on a global scale.

As per reports, the Uttar Pradesh government has also announced a pharma research innovation programme through centres of excellence.

“A day will certainly come when India will be a leading supplier of affordable innovative drugs all over the world,” he added.

For the past few years, the Pharma sector has been appealing to the government to address their concerns, and their efforts have finally paid off with the announcement of the state budget for 2023-24.  (KNN Bureau)