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Government to Launch ‘Research-linked Incentive Scheme’ To Prepare High Quality Researchers In Ayush

The Government of India’s public policy think tank, NITI Aayog, is developing a research-linked incentive scheme that would encourage taking risks for the country’s translation of drug development. It is also eager to develop the skills necessary for professionals with a background in Ayush to conduct superior studies in the field of clinical research, particularly clinical trials.

With a goal of raising India’s standing on the innovation index in the international medicines industry. According to insiders, the government is in conversations about the proposed scheme with senior industry leaders of the biggest domestic pharmaceutical corporations as it plans India’s transition from a low-value, high-volume participant to a high-value, high-volume player in the global pharmaceutical market.

In terms of value, the Indian pharmaceutical business is now placed 14th and holds a 3.4% market share worldwide. According to the government’s pitch to the leading local pharmaceutical businesses, the market value would increase to approximately 108 billion USD by 2030 if the industry followed its current course. On the contrary, if the sector focuses on growth accelerators, India may capture 4% of the market and achieve a value of USD 130 billion.

According to a department of pharmaceuticals official quoting a draught note distributed to the heads of pharmaceutical companies, the goal of the research-linked incentive scheme (RLI) in moonshot areas of the pharmaceutical industry is to “transition India from a low-value, high-volume player to a high-value, high-volume player in the global pharma market.”

The Niti Aayog highlighted six sectors as the moonshots for the pharmaceutical industry: biosimilars, complicated generics, orphan medications, precision medicine, vaccines, and antibiotics.

A moonshot is a large-scale, ground-breaking endeavour that is started without any thought of immediate financial gain.

According to a draft document created by the department of pharmaceuticals, the pharmaceutical industry spends 5 to 6 percent on R&D on average, but that percentage should be at least 15 percent. Additionally, the government has acknowledged that while R&D incentives make up 7.5% of all tax breaks offered in India, pharmaceutical R&D incentives only make up 2.3 percent.

Improving India’s standing in the “Global Innovation Index: Patents & Publications” is the RLI scheme’s top priority. In addition to implementing India’s Atmanirbhar Bharat strategy to restructure the global value chain, the goals include enhancing domestic strengths and cultivating global champions.

Additionally, it wants to increase exports and become the leader in moonshot industries. One of the main goals, according to the official above, is to create high-skill employment prospects. “Additional PhDs and reverse migration of scientists to India are only two examples,”

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