Pharma companies must invest in R&D to keep growing: Prabhu
New Delhi, July 13 : Noting that India is now recognized globally as a key player in the generic medicine industry, Commerce Minister Suresh Prabhu on Friday asked pharmaceutical companies to invest in research and development (R&D) for further growth of the sector.
Speaking at an event here, organised by the Organization of Pharmaceutical Producers of India, Prabhu said the government is taking steps to make pharma companies more innovative.
"All companies in pharma industry must ensure that they invest good part of their topline in R&D. Because if you do not have pipeline of new drug delivery or new molecules, you will always have problem down the line," he said.
"By 2020, India is likely to be among the top three pharmaceutical markets by incremental growth and the sixth largest market globally in absolute size.
"Increase in the size of middle class households coupled with the improvement in medical infrastructure in the country will influence the growth of the pharmaceuticals sector," he added.
The Minister asked the companies to make a proper balance between making profits and protecting consumer interests.
"We must have a trade-off. We cannot take only one of that issue for granted," he said.
"We will make sure that the industry grows and at the same time the consumer interest is also adequately protected."
Prabhu also said that Indian pharma firms were facing problems of market access in China, which had been resolved following his talks with the Chinese Commerce Minister.
According to a Commerce Ministry release, the Indian pharmaceuticals market witnessed a compound annual growth rate of 5.64 per cent during 2011-16, with the market increasing from $20.95 billion in 2011, to $27.57 billion in 2016.
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Two more Hindu priests arrested in Bangladesh: ISKCON Kolkata
Kolkata, Nov 30: Two more Hindu priests were arrested in Bangladesh, ISKCON Kolkata spokesperson Radharamn Das claimed on Saturday.
Speaking to PTI, Radharamn said, "I have received information that two more ISKCON monks have been arrested by police in Bangladesh."
In a post on X on Friday night, Radharamn said, "In the meantime, bad news has come: two devotees who went with prasad for Chinmaya Prabhu were arrested on their way back to the temple, and Chinmaya prabhu's secretary is also missing. Please pray for them."
Earlier on Friday, Radharamn had posted, "Another Brahmachari, Sri Shyam Das Prabhu, was arrested by Chattogram Police today."
"Does he look like a terrorist? #FreeISKCONMonks Bangladesh. The arrest of innocent #ISKCON brahmacharis are deeply shocking & disturbing," Radharamn posted on X on Saturday. His comments comes comes in the backdrop of unconfirmed reports of arrest of three more ISKCON monks, days after the arrest of spiritual leader Chinmay Das.
Chinmay Das, who also served as a spokesperson for Bangladesh Sammilita Sanatani Jagran Jote, was arrested at Dhaka's Hazrat Shahjalal International Airport on Monday while en route to Chattogram to attend a rally. He was denied bail and sent to jail on Tuesday by the Chattogram Sixth Metropolitan Magistrate Court.
Historically, Hindus made up approximately 22 per cent of Bangladesh's population during the 1971 Liberation War.
The Hindu population, once a substantial demographic in Bangladesh, has experienced a significant decline in recent decades, with the minority community now comprising only around 8 per cent of the country's total population.
This drop is largely attributed to a combination of socio-political marginalisation, exodus and sporadic violence over the years.
In the meantime, bad news has come: two devotees who went with prasad for Chinmaya Prabhu were arrested on their way back to the temple, and Chinmaya prabhu's secretary is also missing. Please pray for them. #Bangladesh #ISKCON pic.twitter.com/NLX8hNZmpN
— Radharamn Das राधारमण दास (@RadharamnDas) November 29, 2024
Does he look like a terrorist?#FreeISKCONMonks Bangladesh. The arrest of innocent #ISKCON brahmacharis are deeply shocking & disturbing. pic.twitter.com/VG6u7jlnXB
— Radharamn Das राधारमण दास (@RadharamnDas) November 30, 2024
