India is the largest global provider of generic drugs, with Indian generics accounting for 20% of global exports in terms of volume. India enjoys an important position in the global pharmaceuticals sector, having the largest pool of scientists and engineers who have the potential to steer the industry ahead to an even higher level.
The market size is poised to grow to $80 billion by 2020 (IMS). India’s cost of production is significantly lower than that of the US and almost half of that of Europe. The country accounts for the second largest number of Abbreviated New Drug Applications (ANDAs) and is the world’s leader in Drug Master File (DMF) applications with the US.
Pharmaceuticals are also amongst the 25 sectors that the Government of India is focusing on, as part of its Make in India campaign. The Make in India initiative was launched on 25 September 2014 by Prime Minister Shri Narendra Modi to encourage multinational and domestic companies to manufacture their products in India. The major objective of the initiative is to focus on 25 sectors of the economy for job creation and skill enhancement. The initiative hopes to increase GDP growth and tax revenue and aims at high quality standards and minimizing the impact on the environment. It is expected that this campaign will be a positive step to build the Indian pharmaceutical industry.
Brand India Pharma has been a significant initiative led by Pharmexcil (Pharmaceutical Export Promotion Council) and IBEF (India Brand Equity Foundation) under the aegis of the Department of Commerce, Government of India. Brand India Pharma Campaign was launched in 2012 at CPhI Japan but a major relaunch took place in Madrid in CPhI World Wide 2012 – a platform where the entire pharma fraternity comes together every year.
CPhI is the largest pharmaceutical trade exhibition organized each year by the UBM Group. Through exhibitions, conferences and online communities, CPhI Worldwide, ICSE, InnoPack and P-MEC (events focused on specific subsectors of the pharma ingredients) bring together more than 110,000 pharmaceutical professionals each year to network, identify business opportunities and expand the global market.
The campaign, although initiated against the backdrop of negative perceptions being fabricated and spread through certain vested interests, actually aims to create awareness about the inherent strength of the Indian pharma sector and credibility achieved so far. The campaign is about making the medicines affordable to the world. The campaign is about committing to provide high quality medicines on a sustainable basis.
The Indian presence at CPhI Worldwide, October 13-15 (Madrid, Spain), will be led by Ms Rita A. Teaotia, Commerce Secretary, Government of India, who will be accompanied by senior officials of the Department of Commerce, Government of India, Pharmexcil, DCGI, DCA and IBEF. During the 3 day event and various interactions and networking on the sidelines, immense business opportunities will be explored.
The objective would be to engage with all stakeholders and take back valuable inputs in our endeavour to stay committed responsibly towards better health care for everyone. The entire Indian pharma industry is aligned with this commitment. The key highlights of this year’s participation wwere at the Pre-Connect Congress at Novotel Campo de las Nacinoes on October 12, 2015 with a discussion on generics, growth opportunities, emerging markets and evolving dynamics.
This was then followed by an evening reception at the same venue. The India Pavilion will be inaugurated by Ms Rita A. Teaotia, Commerce Secretary in Hall No. 8, Government of India on October 13, 2015 followed by the Europe-India Pharmaceutical Summit at Hall No. 1 at Feria De Madrid. The summit will focus on synergies of partnership between Italy and India accompanied by a panel discussion by an eminent team of experts from trade, industry and government regulatory body. We welcome all to be part of the Brand India Pharma.