Piyush Goyal urges pharma industry to leverage ANRF fund for innovation at 63rd Annual Day Celebrations of IDMA in Mumbai

 

Union Minister for Commerce and Industry, Piyush Goyal, called upon the pharmaceutical sector to take advantage of the recently launched Anusandhan National Research Foundation (ANRF) fund to drive innovation and research while speaking at the 63rd Annual Day Celebrations of the Indian Drug Manufacturers' Association (IDMA) in Mumbai themed Innovating Today For Healthier Tomorrow, Union Minister of Commerce and Industry Piyush Goyal on February 8, 2025. Addressing industry leaders, Goyal emphasized that the Rs. 50,000-crore initiative, backed by Prime Minister Narendra Modi, aims to strengthen collaboration between research institutions, academia, and the private sector.

“The Anusandhan National Research Foundation is a revolutionary step towards making India a global hub for research and development. I urge the pharmaceutical industry to actively participate in this initiative and harness its potential to bring cutting-edge innovations to the market,” Goyal stated.

The ANRF, established under the ANRF Act 2023, seeks to foster a robust culture of research and innovation across the country. By investing in ANRF and promoting private sector involvement, the government aims to boost India’s position in global innovation rankings and ensure that research translates into economic and societal benefits. The recently presented Union Budget 2024-25 underscores the government’s commitment to advancing scientific endeavors, with significant allocations to the space economy, agricultural research, and nuclear advancements.

Minister of State for Commerce and Industry, Anupriya Patel, highlighted the significance of the foundation in enhancing India’s research landscape. “By empowering early career researchers and providing necessary resources, we are building a strong pipeline of innovation that will benefit industries like pharmaceuticals, biotechnology, and healthcare,” she remarked.

Dr. Rajeev Singh Raghuvanshi, the Drugs Controller General of India (DCGI), echoed these sentiments, emphasizing the importance of the pharmaceutical industry's participation in research initiatives. “India’s pharmaceutical sector has always been at the forefront of global healthcare solutions,” he noted.

He further added, “There is a need for focused interventions in areas like dissolution, assay content, microbial control to improve drug quality.

The Prime Minister’s Early Career Research Grant, a flagship initiative under ANRF, offers up to Rs. 60 lakh plus overheads over three years to support emerging researchers. The program provides flexibility in resource allocation, manpower recruitment, and travel allowances, including international travel for project-related activities. A maximum of 700 grants will be awarded annually across various subject areas, ensuring a steady influx of research-driven advancements.

Goyal emphasized that the ease of doing research measures introduced under ANRF, such as enhanced funding for open access publications, patent filings, and contingency support, will significantly benefit industries reliant on innovation. “With these strategic initiatives, we are creating an ecosystem that fosters ground-breaking research, accelerates scientific advancements, and positions India as a leader in global R&D,” he added.

With the launch of ANRF, India is set to make significant strides in research and innovation, paving the way for transformative discoveries and strengthening its position in the global knowledge economy.

“Our members have successfully ensured that India continues to have the largest number of WHO Prequalified Finished Pharmaceutical Products Manufacturers under various medical verticals and is also rated the largest supplier country of generic drugs by UNICEF,” informed Dr. Viranchi Shah, national president, IDMA.

Daara Patel, secretary general of IDMA convened the proceedings of the Annual Day Celebration.

The Indian pharmaceutical market will reach US$ 65 billion by 2024 and further expand to reach US$ 120-130 billion by 2030. IDMA Members' Export Record approximately 75% in formulations and 85% in APIs. India thus has maintained its global regulatory approval dominance with 700 US FDA Sites. Highest in any country outside the US, 650 EU GMP certified sites and 1800+ WHO GMP certified units.

“Timely and effective representations to Government authorities for quick resolutions of issues and quick response to Members' queries are one of our main strengths,” Dr. Shah added.