For world, it may be commerce but for India, health is seva: Mandaviya at IIMA

“World has its own model, India has its own model because in India, the perspective with which healthcare is looked at is different. For the world, it may be commerce but for India, health is seva… During Covid-19 pandemic, we completed not only our requirement but also made available vaccines and drugs to 150 other countries.”

“…Whenever there is any pivotal incident, the world changes… After World War II, a new world order had come with a new thought… After 75 years, in the new order… we are seeing India’s capability. Today, when I talk to the world, the whole world says that even if it is expensive, they want to do business with India because India is a trusted partner,” Mandaviya said.

He added, “When the world was stockpiling vaccines, India was helping the world. When the world was concerned about commerce amid a crisis, a medicine like Remdesivir that cost about Rs 1,000… Pankajbhai (Patel, chairman of Zydus Lifesciences) made it available to the country and the world at around Rs 100… They want to do business in India, invest in India.”

“When FDI (foreign direct investment) comes, the file reaches the minister for approval. I received one such file last week. A company is investing Rs 9,000 crore in the pharma sector. When I called the CEO… he said ‘we have invested elsewhere in the world but now our priority is India, and this is not only for my company but a number of multinational companies’. When I asked why, the CEO said that ‘India is a democratic country, the social culture of Indians is very rich… and their perspective towards the health and pharma sector is appropriate for futuristic planning’,” said Mandaviya, who is also the Union minister for chemicals and fertilisers.

While Mandaviya stressed on the need for research and innovation, Pankaj Patel – who is on the IIMA board of governors – said: “While things do seem to be progressing for start-ups… there are some challenges that need to be addressed in terms of regulatory framework or competition.”

“Today, we call ourselves as the pharmacy of the world but we are only supplying medicines invented in the past and providing the same at an affordable and accessible way. If the industry has to be leading pharma in the world, it is important that we innovate…”