For 28 years, the Chemtech caravan of exhibitions have grown in size with more exhibitors and visitors. Today, as the 21st century presents new challenges and prospects for the Indian industry, Chemtech adds one more wagon to its caravan - Pharma World Expo. That is what makes the Chemtech 2003 such an important event. It marks a new chapter in Chemtech''s illustrious history. It is also a reflection of its charter "Inspiring Intelligence. Igniting Innovation".
Jasu Shah, Chairman Chemtech Foundation, says, "the growth of the pharmaceutical industry is quite significant. A few Indian players have risen to become globally competitive despite government controls and restrictions. I have always pointed out to my friends in the chemical process industry the example of the pharmaceutical industry when they crib about government controls and make it an excuse for all the ills of the industry. I am confident that with an interactive platform like the Chemtech, the Indian pharmaceutical industry would reach greater heights".
He said, "Pharma World Expo 2003, the biggest exhibition for the pharmaceutical bulk drugs industry, will also incorporate a focused Biotechnology pavilion. The exhibition, with its displays and demonstrations, will provide an insight about the shape of things to come and also serve as a platform for technology and trade flows, joint ventures, foreign investments and strategic alliances."
Ajit Singh, Chairman, Associated Capsules Group and Chairman, National Advisory Board of Pharma World Expo 2003, at the recent Chemtech promotion event said " despite various controls, the pharmaceutical industry has emerged as a sunrise industry, like IT. The industry has set many benchmarks in the Indian as well as the global context. Dr Reddy''s Laboratories has replaced two-thirds of a block-buster drug market of a multinational as soon as its patent expired." He went on to add that companies like Aurobindo, Orchid, Ranbaxy and Wockhardt have even set up plants abroad. With the Indian pharma industry slated to a very important player, globally, the Pharma World Expo 2003 would "be a great show", he opined.
Foreign Participation
The foreign participation at the exhibition is assured as the European Union is playing "Partner-in-Progress". Michel Cailouet, Ambassador and head of delegation of European Commission India committed "European chemical industry will be represented at Chemtech World Expo 2003 to upgrade, modernize and develop the Indian industry".
Similarly, Richard Rothman, Trade Commissioner, Consulate general of the US, also said "US and India are the largest trading partners. Chemtech-Pharma World Expo 2003 will have one of the largest pavilions under the US banner to further enhance the bilateral trade".
The Indian pharmaceutical industry too is eagerly looking forward to the event to ensure that they make the most of the opportunity that has come their way. Venkat Jasti, President of the Indian Bulk Drugs Manufacturers'' Association, says that the "Indian pharmaceutical industry is growing at a rapid pace and is expected to grow from the present $5.5 billion to $25 billion by 2010."
The significant achievement of the pharmaceutical industry in India, he said, was that the industry has not just met nearly 90 percent of the country''s bulk drug requirements, but also has established a commendable export record.
While the track record of the Indian pharmaceutical industry is commendable, the challenges on account of liberalization of the Indian economy, globalisation of the world economy and on account of new obligations undertaken by India under the WTO Agreements. To meet these challenges, there is a need for new initiatives like the Pharma World Expo that would help the Indian industry become more internationally competitive.
The pharmaceutical industry has undoubtedly carved a niche for itself in the world markets not just as producers of quality bulk drugs but in recent months as reliable innovators. Ranbaxy and Dr Reddy''s Lab, Torrent have all licensed new drug discoveries to multinational giants to exploit the new drugs full potential in the global markets. Industry experts opine that many more Indian companies would succeed in R&D.
Biotech pavilion
Significantly, the event also includes the emerging biotech sector as well. A separate pavilion titled Biotech World Expo 2003 will provide an interactive platform between industry players, professionals, regulators, researchers and academia in the context of emerging trends, processes and technology sector.
The biotechnology sector has recorded excellent growth in the last five years and is expected to continue its robust growth rates in the coming years as well. According to industry estimates the biotech market in India is expected to grow to $2.5 billion. Presently, the human health biotech accounts for over 60 percent and balance taken up by agri biotech, veterinary biotech, medical devises and reagents account for the rest.
Dr Firuza Parikh, Director, Reliance Life Sciences and a member of the National Biotechnology Board, says "India''s rich biodiversity could be a source for growth of the biotechnology industry in the country. She added that embryonic stem cell lines set up by Reliance has enabled India to join the world leaders and to share information on treating diabetes, Parkinson''s disease and spinal cord disorders". The high hopes entertained by the Indian pharmaceutical industry is because of the large number of foreign delegates who are likely to visit the exhibition and the consequent opportunities for business with the visiting delegates. Besides Europe and US, there is a large delegation coming for China, Nepal and Indonesia. Infact, China will be participating at the Pharma World Expo in a big way to "boost bilateral trade between the two countries" said Yuan Nan Sheng, Consul General of People''s Republic of China in Mumbai.
Chemtech''s first step forward with the Pharma Wagon is itself a giant step in the right direction and could not have come at a better time.