World debating and looking for affordable medicines and India can become the hub.
Indian Pharma industry has huge scope to move into global value chain system and increase exports-Commerce Secretary Sunil Barthwal
Department of Commerce has put pharma in important sector with main focus on exports to about 30 countries including Africa
New Delhi/Greater Noida- August 29, 2024 India is already recognized as the ‘pharmacy of the world’ and has huge scope to move into the global value chain system to further boost exports of pharma products .
“It’s extremely important that it should focus not only on our strengths in the generic sector, but also ensure our backward and forward linkages. it’s important that the industry should try product development, break new grounds. The department of Commerce has included Pharma as important sector, by creating a health care sector value chain on the lines of mobility chain created by the automobile industry ,
the exports of pharma products can increase in a big way” said Mr Sunil Barthwal, Secretary, Union Ministry of Commerce & Industry while interacting with pharma sector industry leaders at the ongoing Three day International Pharmaceutical exhibition (IPHEX) jointly organized by Pharmaceutical Export Promotion Council and the ministry.
“In the mobility chain created by the automobile industry has included all component auto linked part manufacturers including tyre ,engine, brakes , steel makers and other related parts. This has helped in increasing exports and finding new markets. Similarly pharma industry should include medical instrument manufacturers, diagnosis, hospitals etc and offer total packages to the world for both pre and post health care at affordable. This can be done not loosing your main focus of manufacturing pharma products ” said Mr Barthwal.
“During my recent visit to Africa the Department of commerce has identified four potential sectors including automobiles, agriculture, pharmaceuticals and transportation .There are opportunities to increase pharmaceutical trade and provide
Affordable medicines and health care to African countries. Pharma should also look at emerging markets . World over including in US the debate is going on for moving towards affordable medicines and removing trade barriers and product patents” Mr Barthwal said.
“India is signing Free Trade Agreement (FTA) with many countries and taking up various issues including stopping fresh trial system for already US FDA approved products. Thus removing technical barriers and creating free level playing field for Indian companies as per WTO rules.” He added.
“The pharmaceutical industry during the interactive session drew the secdretary’s attention towards various problems being faced by the pharmaceutical export industry including more incentives for exports, world class product testing laboratories R& D support” said Mr Mr Raja Bhanu , Director General , Pharmaceutical export promotion council of India (PHARMEXCIL) speaking on the occasion.
Others who were present on the occasion included Nitin Kumar Yadav, IAS, Joint Secretary EP-PHARMA, Department of Commerce, Government of India , Mr S.V Veeramani , Chairman , Pharmexcil, and Mr Namit Joshi, Chairman IPHEX.
