In a bid to battle the issue of counterfeit drugs in India, NITI Aayog has joined hands with Cloud major Oracle, Apollo Hospitals and global pharmaceutical manufacturer Strides Pharma Sciences to pilot a real drug supply chain, using Blockchain decentralised ledger and Internet of Things (IoT) software.
The collaboration is aimed to bring transparency, accountability and efficiency in tracing and tracking drugs manufactured in the country.
The agreement was signed by Anna Roy, Advisor (Industry), NITI Aayog and Shailender Kumar, Regional Managing Director, Oracle India, in the presence of Amitabh Kant, CEO, NITI Aayog and Sangita Reddy, Joint Managing Director, Apollo Hospitals.
“India is the third largest producer of generic drugs and vaccines globally and we’ve been exporting to almost 200 countries. But 20 per cent of the drugs being circulated in the Indian market are fake,” Kumar told reporters here.
“Based on the discussion with other stakeholders in the project, we’re going to develop a solution on Blockchain and IoT,” Kumar added.