MADRID and GURGAON, India, October 15, 2012 /PRNewswire/ --
Successful Presence of Brand India Pharma at the Largest Pharmaceutical Exhibition, Showcasing the Strengths and Opportunities Associated With the Indian Pharma Companies and Market
Brand India Pharma created waves at the recently concluded CPhI Worldwide, the largest pharmaceutical exhibition across the globe, with a slew of events showcasing the potential of the Indian pharmaceutical market among the global pharma leaders.
India was announced as the Focus Country for the event at the inaugural session of CPhI Worldwide which was followed by the inauguration of the India Pavilion with lamp lighting at Hall 5, Feria De Madrid by Mr S R Rao, Commerce Secretary, Ministry of Commerce and Industry, Government of India, Mr Sunil Lal, Ambassador of India to Spain, Mr Rajeev Kher, Additional Secretary, Department of Commerce, Mr J S Deepak, Additional Secretary, Department of Commerce, Mr Nik Rudge, Managing Director, UBM Live and Mr N R Munjal, Chairman, Pharmexcil.
Brand India Pharma is a significant initiative being led by Pharmaceutical Export Promotion Council (Pharmexcil) and India Brand Equity Foundation (IBEF) under the aegis of the Department of Commerce, Government of India, to highlight the value proposition that Brand India Pharma represents today for the global pharmaceutical industry.
"Given the huge size of India, it enables us to remain profitable and at the same time promote inclusive growth. It is a known fact that India is able to produce quality medicines at a very low cost. In other words, the more you buy from India, the less you spend," said Mr Lal.
The Indian presence at Madrid was led by Mr S R Rao accompanied by senior officials of the Department of Commerce and a large Indian business delegation. The three-day pharmaceuticals event held in Madrid, Spain from October 9-11, 2012 attracted participation from over 200 Indian pharmaceutical companies.
Synonymous with Credible, Affordable and Sustainable healthcare, the Brand India Pharma campaign can be expected to play an important role in reaching the Indian Government's target for pharmaceutical exports to US$ 25 billion by 2014.
Reiterating the important role of the Indian pharmaceutical companies in the global pharma industry, the senior officials from Ministry of Commerce and Industry held a press conference with the global pharmaceutical editors.
"India is already a world leader in generics and almost 2/3rd of these exports are to the highly regulated markets. As the world population is ageing, India is uniquely equipped to make most of this opportunity," said Mr Rao adding that the Indian pharma market has registered a CAGR of 15 per cent over the past five years and it is a matter of pride that over 70 per cent of patients in 87 countries get ARVs from India.
"There is an innovative spirit available in the country and there are people who have the entrepreneurial skills & an innovative approach. In terms of exports, India aims to expand its presence in Africa, CIS nations, South East Asia and the most challenging markets and untapped markets like Japan and China. We are currently in a position to reach to as many countries as we can," said Mr Kher.
The three-day exhibition also witnessed the release of IBEF publication titled 'The Best of India in Pharmaceuticals'. Divided into ten detailed chapters covering all the broad segments of the Indian pharma sector like Biotechnology, Clinical Trials, Biosimilars, Probiotics, Neutraceuticals and Contract Manufacturing, the publication aims to highlight the strength of the Indian pharma sector and the key opportunities available across segments.
"The Best of India in Pharmaceuticals, highlighting the changing dynamics of the Indian pharmaceutical market, talks about the various opportunities available in domestic as well as the exports market. At the same time, the publication also covers the government initiatives as well as the regulatory framework of India, making it a must-have for every manager and company interested in the Indian pharmaceutical industry across the globe," said Aparna Dutt Sharma, Chief Executive Officer, IBEF.
The Business Seminar on 'Generics from India: Quality and Affordability' was also an important part of this event. Apart from the senior officials from Ministry of Commerce and Industry, Dr S E Reddy, Deputy Drugs Controller (lndia), CDSCO and Indian pharma leaders like Dr Y K Hamied, Chairman and Managing Director, Cipla; Dr B Hari Babu, Acting CEO and Executive Director, Mylan Laboratories; Ajit Singh, Chairman, ACG Worldwide; Anuj Reddy, Vice President Business Development, Wockhardt and Brian Tambi, Former CEO, Morton Grove Pharmaceutical also took part in the panel discussion at the Business Seminar.
"India is regulating APIs as drugs unlike the scenario in many developed countries. Factors like these reiterate the fact that Indian medicines are high in quality and at the same time cost-efficient," said Mr Reddy.
"92 per cent of the total drugs used in the treatment of HIV are from India, which shows the strong position of the country. If the Indian pharma industry is in confidence, we will surpass the Government target of $25 billion pharma exports by 2015," said Cipla's Hamied.
Overall, the presence of Brand India Pharma at the largest pharmaceutical exhibition was very successful as it helped in showcasing the strengths of the Indian pharma companies and at the same time, the opportunities available in the Indian pharmaceutical market. In fact, the seamless support from the Ministry to the pharma industry is a testimonial to the fact that the Commerce Ministry realises the potential for growth in the pharmaceutical sector.
For further information please visit http://brandindiapharma.in/event/
India Brand Equity Foundation is a Trust established by the Ministry of Commerce with the Confederation of Indian Industry (CII) as its associate. IBEF's primary objective is to promote and create international awareness of the Made in India label in markets overseas and to facilitate the dissemination of knowledge of Indian products and services. IBEF is engaged in building Brand India. Towards this objective IBEF works closely with stakeholders across government and industry.
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SOURCE India Brand Equity Foundation