Union Minister Mansukh Mandaviya on Wednesday said that that the BJP-led central government is "pro-farmer but industry-friendly".
"Our Government is pro-farmer but industry-friendly. We see to it that the industries go ahead and sustain. Indian companies never cheat while making supplies. Our character is to maintain quality," Mr Mandaviya said while speaking at the investor summit.
The theme of the summit is "Opportunities and Partnerships in Pharmaceuticals and Medical Devices."
The Union Minister further said that when the first wave of COVID-19 hit, the world did not have COVID-19 medicines.
"We not only brought our own situation under control, met our own medicine requirements but also supplied medicines to over 150 nations. This is our commitment," he said.
"Today India is the largest manufacturer and supplier of generic medicines. We believe in 'Vasudhaiva Kutumbakam'. We are seeing to it that the world gets affordable medicine," he added.
The PLI for Pharmaceuticals launched with an outlay of Rs 15000 crore has attracted considerable interest with about 278 companies applying to be considered under the scheme.
This Summit will encourage investors looking to build global champions in India in these products.
It may be recalled that 13 companies have already been selected under the PLI scheme for medical devices earlier this year which will support their investment in enhancing domestic manufacturing of targeted devices.
The sessions will also cover the financing of the burgeoning start-up ecosystem, and it will culminate with a session on providing comprehensive facilitation to applicants selected under the PLI schemes about the smooth grounding of investments.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)