Pre-budget expectation: Arvind Sharma, Partner, Shardul Amarchand Mangaldas & Co

The minimal expectation of the industry is an increase in budgetary allocation for public health infrastructure, with related measures which include subsidised loans and low-cost lands for setting up hospitals. The government should also focus on providing viability gap funding to attract private players to tier II and tier III cities. The tele-medicine guidelines announced last year is a revolutionary moment in the pharma industry, and suitable measures should be announced to provide affordable healthcare to wider populace. Further, measures should be announced to leverage technology and start-ups by the pharma and healthcare industry in order to provide affordable healthcare on a mass scale.

It is notable that immediate measures (including setting up of bulk-drug parks) were announced last year to attract top pharma companies to India, the pharma industry expects that suitable long-term measures are announced in the upcoming Union Budget. More importantly, focus should be on research and development and drug discovery, with collaboration with all stakeholders.

It is noteworthy that the COVID-19 vaccination drive has kick-off, and announcements are expected for swift manufacture, transportation, storage and distribution of the vaccine through-out the country.