The ratings agency noted that the impact of COVID-19 on the Indian drug firms was relatively limited last fiscal due to consistent demand for pharmaceutical products among others.
The Uttarakhand government on May 15 floated a global tender for procurement of COVID-19 vaccine to vaccinate people in the state.
There are 2-3 laboratories in every state. They should be given the formula to produce the COVID-19 vaccines. They can give royalty, Gadkari said.
They have now been classified as essential services, Additional Chief Secretary, C&I, Dr Rajkumar Khatri said on Saturday.
Pall biotech products have played a key role in life-saving drugs that range from Ebola vaccines to cancer-curing monoclonal antibodies.
Official sources said the visit of the foreign heads of missions in India to Hyderabad is being organised as part of MEA's COVID-19 briefing initiative.