The Indian presence at CPhI Worldwide being held from October 13-15, 2015 at Madrid, Spain is led by Rita A.Teaotia, Union commerce secretary who is accompanied by senior officials of the department of commerce, government of India, Pharmexcil, DCGI, DCA and IBEF. During the three-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 were at the Pre Connect Congress at Novotel Campo de las Nacinoes on October 12, 2015 with a discussion on Generics Module: 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 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.
Brand India Pharma has been a significant initiative led by Pharmaceutical Export Promotion Council (Pharmexcil) and India Brand Equity Foundation (IBEF) 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 re-launch 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 organised each year by the UBM Group. Through exhibitions, conferences and online communities, CPhI Worldwide, ICSE, InnoPack and P-MEC (events focused on specific sub-sectors 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, though initiated against the backdrop of negative perceptions being fabricated and spread through certain vested interest, actually aims to create awareness about 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 commitment for providing high quality medicines on sustainable basis.
India is the largest provider of generic drugs globally with Indian generics accounting for 20 per cent 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 US$ 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 Files (DMFs) 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 September 25 , 2014 by Prime Minister 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 minimising the impact on the environment. It is expected that this campaign will be a positive step to build the Indian pharmaceutical industry.