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Indian Pharma sector poised to become future world hub

04/03/2016

Indian Pharma sector poised to become future world hub

During the seminar on Indian Pharmaceuticals Industry -- aligning with Make in India Vision at the mega Make In India event, the minister Hansraj Gangaram Ahir, minister of pharmaceuticals, chemicals and fertilisers said that his ministry is working responsibly towards addressing all issues, including land procurement and environmental clearances. He also added the centre is coordinating closely with the states to improve productivity and assured constructive dialogue with the industry to address all sort of issues, including price control.

Mr. Ahir also lauded the efforts of the Maharashtra government in improving the manufacturing and marketing climate in the state.

Pankaj Patel, senior vice-president, Federation of Indian Chambers of Commerce & Industry (Ficci), Chair -- Ficci Pharmaceutical Committee and chairman & managing director, Zydus Cadilla, described the Make in India initiative as a timely response devised to transform India into a global designing and manufacturing hub. He also lauded the industry for being a world leader in generic and pharmaceuticals, and a reliable supplier of affordable medicines.

"India has the largest number of U S Food and Drug Administration (USFDA)-compliant plants." Mr. Patel also disclosed that by 2020, the Indian pharmaceutical industry is poised to reach $55 billion, of which $30 billion will be for exports. The crucial factors to make this happen are affordability, strong infrastructure, and most important, the ease of doing business. "We need to think how to create ease of doing business without compromising quality and affordability," he added.

Mr. V K Subburaj, secretary, department of pharmaceuticals, ministry of chemicals and fertilisers, government of India added that "In 20 years' time, by the 'nineties, India is becoming self sufficient to meet our own requirements”, and now can become a superpower as far as generic drugs are concerned. He further expressed confidence that India can become a $300-billion industry by 2030, quoting a Ficci report.

"If we concentrate on states where growth is less, we should be able to achieve the infrastructure requirements of the pharmaceutical industry," he projected. He disclosed that the central government is working in close coordination with the state governments to achieve this. @Source: Business-Standard

INOXPA designs and manufactures equipment for the pharmaceutical and cosmetics industry.

INOXPA is the leading manufacturer of hygienic and aseptic fluid handling equipment such as pumps, mixers, blenders, agitators, CIP and other skids, etc. for pharmaceutical and cosmetics applications.

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