Finance Minister Nirmala Sitharaman, in a speech to more than 150 veteran industry captains at a virtual interaction organized by the Department of Industry of India (CII) today, praised Indian industry for its ultimate tolerance, patience and perseverance and described it with the Japanese word ‘gamanjuye’. .
Nirmala Sitharaman also gave details of the government’s initiatives to increase the capacity of remedicivir from 3 lakh lakh bottles to 6 lakh bottles per month. Some of its measures include rapid clearance of new capabilities, halting exports, halting API exports and the formulas used to make these life-saving drugs, and allowing SEU-based EOUs and manufacturers to sell in the domestic market, he said.
The Finance Minister assured the states of uninterrupted supply of a medical equipment of COVID-19, for the extraordinary increase in the demand for treated oxygen. The finance minister added that the measures being taken by the government include importing treated oxygen, working around oxygen filling stations and allowing nitrogen and argon to be used for oxygen in containers.
During the conversation, CMI members informed the Finance Minister that they are actually working towards exceeding the promised target of one lakh lakh bottles per month and producing one crore bottles per month.
Elaborating on the recent announcements about the vaccine, the finance minister said that the CII’s recommendations to introduce the vaccine to all adults allow the industry to vaccinate its employees and their families and allow the import of vaccines. The government has also cleared the issue of advance payment ₹Rs 4,600 crore to Seram Institute of India and Bharat Biotech for capacity building.
Welcoming the CIA’s advice on mitigating the impact on the economy of saving lives, the finance minister also assured a test.
Earlier, in his inaugural address, Kotak Mahindra Bank Limited, President and inaugural Director and CEO of CII, lauded the government’s policy move to tackle the COVID-19 epidemic in the last 722 hours. Mr Kotak emphasized the importance of vaccination and the need to do whatever it takes to get vaccinated. He insisted on providing adequate oxygen, medicine and bedding immediately.
In the medium term, he focused on promoting research to identify and tackle mutants and upgrade vaccines. He also suggested enhancing India’s capacity in the supply and treatment infrastructure to deal with any possible wave of the future.