June 4, 2020
The Indian pharmaceutical industry supplies more than 50 per cent of global demand for various vaccines
India’s demand for vaccines has helped reduce global vaccine prices, saving GAVI close to US$400 million since 2015
India’s vaccination initiatives have been greatly successful, with new vaccines being added to the National Immunisation Programme
Through vaccine innovation, India has supported the immunisation of around 60 per cent of children globally
Prime Minister Shri Narendra Modi addressed the Global Vaccine Summit 2020 on June 4, pledging US$15 million towards GAVI, the international vaccine alliance. PM Modi also reiterated India’s intention to stand in solidarity with the global community amid the COVID-19 challenges by encouraging efforts towards vaccine development. The Indian pharmaceutical industry supplies more than 50 per cent of global demand for various vaccines. Additionally, the large demand for vaccines from India has greatly reduced the global prices, saving close to US$400 million for GAVI since 2015. The summit was attended by business leaders, Government representatives, and global leaders from over 50 countries.
Acknowledging the importance of immunisation, PM Modi stated how the COVID-19 pandemic has revealed the many shortcomings of global healthcare systems in protecting vulnerable populations around the world. Under PM Modi, the Indian Government has initiated vaccination projects for children and pregnant women across the country, including the addition of six new vaccines to the country’s National Immunisation Programme. In addition, India has successfully digitised its vaccine supply line by developing an electronic vaccine intelligence network for research and monitoring.
As a reliable source of affordable, high quality medical and pharmaceutical products for almost 190 countries around the world, India serves as the international community’s foremost producer of vaccines. By ensuring the availability of safe and potent vaccines through its many innovations, India has successfully contributed to the immunisation of about 60 per cent of children globally.
With regards to support related to COVID-19, India has extended medical supplies to over 120 countries in Latin America, South America, the Caribbean, and Africa. In May, the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund allocated US$409 million towards combating the current pandemic, of which US$13 million was earmarked towards vaccine research and development, supporting global healthcare as a whole.