The Department of Pharmaceuticals (DoP), under the 'Make in India' program, has decided to declare 2015 year as 'Year of Active Pharmaceutical Ingredients'. And the Bulk Drug Manufacturers Association (BDMA) will be the nodal agency to organise various activities throughout the year under this banner to project India as a major API producer globally.
BDMA president Jayant Tagore said that the DoP and the BDMA in association with other API related organisations such as IDMA, IPA, Pharmexcil are planning the launch ceremony of '2015- The Year of Active Pharmaceutical Ingredients' in New Delhi on February 4, 2015 at PHD Chambers auditorium. The event will be inaugurated by the Union minister for Chemicals & Fertilizers.
This will be followed by address by Secretary DOP, Secretary- Commerce Ministry, and DCGI and an interactive session with the minister for Chemicals & Fertilizers. It is expected that the event will be attended by all major bulk drug manufacturers, concerned government officials and other stake holders.
The BDMA president also informed that the new drug policy on Bulk Drugs is expected to be released by March 2015. Awareness programmes and meetings will subsequently be organised in Hyderabad, Ahmadabad, Mumbai and Bangalore with state ministers and senior officials from Health, Industry and Environment ministries along with stakeholders.
Demand for bulk drugs is rising dramatically. Indian industry has considerable manufacturing expertise and is likely to take a large role globally. India’s pharmaceutical exports totaled around US$12 billion in 2014 and estimated rise to approximately US$20 billion by 2020. Costs are very competitive in India as compared to the Western countries. Indian companies operate on significantly lower margins, given their low development and labour costs. Indian companies now have an opportunity to partner with global players.
Under the 'Make in India' initiative it is expected that the government will simplify many existing policies and also provide incentives to give a major thrust to the growth of Indian bulk drug industry to make it a formidable force globally, Tagore said.