Global pharma industry eyeing India as sourcing hub

Thanks to the rapid growth achieved by Indian pharma industry, the world is looking at India for front-end manufacturing solutions, contract research and machinery and technologies, according to UBM India, the organiser of CPhI 2013, which was held along with other concurrent events P-MEC, ICSE and BioPh India in Mumbai from December 3-5, 2013.
 
“Pharma industry has proceeded and progressed to encourage this industry in India to invest in Egypt. This kind of mutual cooperation and investment is very beneficial to both the sides but not just interested in imports of final product but to manufacture the product in Egypt. The focal point to export to the whole MENA (Middle East and North Africa) region will be a win-win situation for both sides and we will do our best to help this push,” Amrasad, Head of Egyptian Pharmaceutical Vigilance & Egyptian Ministry of Health, a visitor at CPhI exhibition, was quoted in the press release.
 
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India is on a major growth plan and the authorities are offering required facilities for the overall growth in the pharma industry. For example Andhra Pradesh, which boasts of 25 per cent of the country’s pharma production, is planning major expansion. “We are proposing two more SEZs for the pharma industry in the state to provide major boost to the exports of bulk drugs,” said G Dharmadata, Joint director of Drugs Control Authority of Andhra Pradesh.
 
Looking at the speedy developments taking place in the industry at present the $18 billion industry is poised to grow manifold to $55 billion by 2020. But, industry (especially the ingredients and pharmaceutical machinery manufacturers) should be ready to face competition from China and other Asian countries. Ajit Singh, Chairman, ACG Worldwide, said, “Indian Manufacturers are good in what they are doing and they are moving up the value chain. This may not last long and we may need to rediscover ourselves in the next 3-5 years. China, who is currently too occupied in satisfying its internal demand, would be a serious contender on cost and quality in the near future. Indian manufacturers will have to get prepared for that scenario.”
 
In spite of the rapid development shown by Indian pharma industry, experts stressed on the urgent need for ‘Brand India Pharma’ promotion to project achievements of the industry by projecting growth in terms of production, exports, quality standards, innovations and technological developments.
 
Added Mahadevan Iyer, Managing Director, IMA-PG India Ltd, “There is a complete focus on quality as the manufacturers need to comply with strict norms by regulators worldwide. Manufacturers seem to be adopting the rationale that investing in better technology and manufacturing practices would yield better results as this will ensure quality and consistency at all times and comply with the norms.”