The Statesman
The $34 billion Indian pharmaceutical industry with over 1400 WHO GMP certified manufacturing units will leverage the forthcoming ‘iPHEX 2014’ global exhibition in Mumbai to showcase to over 500 international buyers from over 110 countries, including government regulators from 25 countries that they remain a credible, affordable and sustainable pharmacy of the developing world.
Addressing a Press conference here today, chairman of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), Ashutosh Gupta said besides key buyers and importers from major economies, regulators and government procurement agencies from 25 countries, including the USA and the EU, will be attending the ‘iPHEX 2014’, to be held between 21-23 May.
“In order to build on India’s reputation as a quality, credible and affordable provider of drugs and pharmaceuticals, factory visits of the regulators will be organised.
This aspect will also be highlighted by the industry leaders in their technical sessions at the event which is also being attended by media from different countries,” Mr Gupta added.
He highlighted that officials from the Drug Controller General of India will also be making presentations to buyers from 110 countries, including the EU and the USA, briefing them about the strict quality standards in Indian pharmaceutical units.
While Indian generics reach almost all corners of the world, as much as 55 per cent of the $14.5 billion exports are shipped to highly regulated markets, including the USA and the EU countries. Japan too holds a big potential for the Indian pharma sector.
Business orders worth several hundred crores are expected to be bagged by Indian exhibitors of drugs and manufacturers of drug-making machinery at the three-day exhibition.
The Indian pharmaceutical industry spread across Andhra Pradesh, Gujarat, Maharashtra, Tamil Nadu, Karnataka, Himachal Pradesh and other parts of India has several milestones to its credit.
Globally more than 90 per cent of formulation approvals for anti-retroviral (ARVs), anti-tubercular and anti-malarial (WHO pre-qualified) have been granted to India.
According to Dr PV Appaji, director general of Pharmexcil, ‘iPHEX-2013’ had generated business over Rs 1,000 crore. This year too, it is expected to be a good draw among foreign buyers who are looking for affordable, credible and sustainable source of pharmaceutical supplies.
He said while China is India’s main competitor in APIs, India’s credibility in generics medicines is recognised worldwide.
This article may also be read at:
India is credible generics maker
