Hyderabad, Sep 15 (Agency) Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain on Thursday said the Indian pharma industry is expected to touch US$ 130 billion by 2030 and become the leading provider of medicines to the world. Addressing at the inaugural function of the three-day 8th Pharma Pro and Pack Expo 2022 being organised jointly by Indian Pharma Machinery Manufacturers Association (IPMMA), Indian Analytical Instruments Association (IAIA) and Messe Muenchen here, Sudarshan said the Indian pharma industry sector currently is valued at US$ 49 billion and is the third largest in the world.
Our medicines are supplied to over 200 countries in the world, he said and stressed on innovation, self-dependence, diversifying the export market and building capacity for the Indian industry to be future-ready. After inaugurated the trade show by planting sapling along with other dignitaries , Aurobindo Pharma Director Madan Mohan Reddy along with the others dignitaries, said India is a big player in the pharma industry with a lot of scope for improvement with lot of generic business and lot of patents expiring. Indian manufacturers are having excellent technology and domestic manufacturers are able to meet all Good Manufacturing Practices (GMP) compliance and international regulatory requirements. Pharma compliance is very important and top priority for companies, the ramifications of non compliance with regulatory affairs is a costly affair for the manufacturers, he said.
The inaugural session was also attended by Ravi Uday Bhaskar, Director General, Pharmexcil; Dr. Viranchi Shah, National President, Indian Drug Manufacturers Association (IDMA); Chakravarthi AVPS, Global Ambassador, World Packaging Organisation; Armin Wittman, Exhibition Director, Messe Muenchen GmbH; Shesul Sheth, Vice President, Indian Pharma Machinery Manufacturers Association (IPMMA) and Gautam Rajan, President, Indian Analytical Instruments Association (IAIA). Addressing the occasion, Dr. Viranchi said Production Linked Incentive Schemes (PLIs) and cluster manufacturing are contributing to the pharma sector’s growth. India is aspiring to be No.1 in the next 25 years, he declared. PLIs and cluster manufacturing will reduce our dependence on imported medicines, he opined. Large parts of imported medicine and equipment will be manufactured locally, decreasing dependence on imports and giving healthcare security to India. India is moving from being a generic manufacturing giant to value addition. Innovation, Technology and Entrepreneurship will drive India towards this, he also opined. Ravi Uday Bhaskar said there is a need to streamline the industry especially in terms of regulations. Different countries have different regulations. Industry-regulator understanding is important for growth. Common regulatory standards like those in the European Union need to be worked out globally so that it is helpful for the pharma industry, he said. The Indian Lab tech industry is valued at approximately US$ 1.3 billion of which 60-65 percent is pharma related. Analytical instruments industry is the pillar for the Indian pharma industry to grow, said Gautam Rajan. Innovation and quality are vital in the analytical instruments industry for Indian pharma industry growth, he added. Chakravarthi stressed on the need for quality packaging.
It is the responsibility of everyone in the industry for quality medicine to reach a patient. Medical packaging is crucial and is vital to protect the efficacy of the medicine till it reaches the patient, he said in a presentation. Hyderabad, India’s pharma hub Hyderabad is to witness the largest gathering in South India of industry experts, leading manufacturers, buyers’ community, policy advisors, and all other stakeholders in the laboratory technology and pharma machinery segment over three days starting today. About 400 plus suppliers will be showcasing 5000 plus products in the three concurrent trade shows — analytica Anacon India, India Lab Expo and Pharma Pro & Pack Expo kicked off at Hitex Exhibition Centre, Hyderabad. The three-day trade show is expected to see footfall of over 15,000 people. The three days will be marked by knowledge-rich conferences, focused buyer-seller meetings and an opportunity to network. Analytica Anacon India showcases analytical instruments, laboratory technologies and equipment, ancillaries and more. India Lab Expo showcases chromatographs, spectroscopes, microscopes and imaging, bioinformatics, medicine and diagnostics and related products. Messe Munchen is one of the leading exhibition organisers worldwide. It organises trade fairs in China, India, Brazil, Africa, Turkey, and Vietnam. Evolving manufacturing capabilities with technology upgrades are important for the industry to thrive. Our trade shows deliver insights, opportunities and network for the industry, said Armin Wittman, Exhibition Director, Messe Muenchen GmbH, Germany. The three concurrent trade shows, which conclude on Sunday evening, bring decision makers, industry stakeholders, and policymakers, leading manufacturers and buyers of pharma machinery, analytical equipment, and laboratory technology.