India is regarded as the global pharmacy because it provides economical, high-quality pharmaceuticals. Nirmala Sitharaman is the Minister of Union Finance and Corporate Affairs.
She noted during the 35th annual convocation of The Tamil Nadu Dr MGR Medical University in Chennai that India meets around 50% of all of Africa's demand for generic medications, 40% of the USA's need for generic medications, and 25% of the UK's need for all medications.
Additionally, she stated that India generates 70% of the vaccinations used by the World Health Organization and roughly 60% of the vaccines used globally.
She stated that the anticipated value of medical tourism is roughly USD 9 billion, placing it in 10th place on the Global Medical Tourism Index.
According to Sitharaman, two million patients from 78 different nations travel to India each year for medical, wellness and IVF procedures.