Dr. Reddy’s quote on the interim Union Budget 2024

Satish Reddy

Satish Reddy Chairman, Dr. Reddy’s Laboratories Limited

“The interim budget announced by the Finance Minister today envisions an India that is modern, innovative, resilient, with a strong focus on sustainability and empowerment as part of the ‘Viksit Bharat’ vision. Its emphasis on ease of doing business and local manufacturing are welcome. In particular, the Rs. 1 lakh crore R&D allocation for sunrise sectors can potentially act as a catalyst in our innovation journey as the Indian pharma industry aims to reach USD 120-130 billion by 2030. Apart from innovation, there is clear and welcome impetus to green initiatives (such as the new scheme of bio-manufacturing and bio-foundry to transform the current consumptive manufacturing paradigm) as well as empowerment and inclusion (e.g., the cervical cancer vaccine to girls between 9 to 14 years, extension of the Ayushman Bharat scheme to ASHA and anganwadi workers, and women in STEM).”