Compliance with global standards to make India a pharma manufacturing hub

The Indian pharmaceutical industry is poised to reach $ 55 billion by 2020, of which $ 30 billion will be accounted for exports. The crucial factors to achieve the true potential of industry are affordability, strong infrastructure, and the ease of doing business. “We need to think how to create ease of doing business without compromising quality and affordability,” opined Pankaj Patel, chairman and managing director, Zydus Cadila, and senior vice president, FICCI, chair - FICCI Pharmaceutical Committee, during a seminar on Indian pharmaceuticals industry at the Make In India Week event in Mumbai yesterday.
 
Lauding the industry for being a world leader in generic and pharmaceuticals, and a reliable supplier of affordable medicines, Patel said, “India has the largest number of US FDA-compliant plants. The Make In India initiative is a timely response devised to transform India into a global designing and manufacturing hub. This calls for a complete change in mindset.”
   
According to Dilip Shanghvi, MD, Sun Pharmaceuticals, the industry should focus on achieving compliance with global standards like Pharmaceutical Inspection Cooperation Scheme (PICS). “I see India as a potential pharmacy hub for the world. If we make a few changes in the way we do and manage business in India, we can accelerate that process. The regulatory framework should be strengthened and brought on par with international practices,” he said.
 
Presenting the government’s perspective, Hansraj Gangaram Ahir, Minister of State for Chemicals and Fertilizers, said, “The centre is coordinating closely with the states to improve productivity. The ministry is working responsibly towards addressing all issues, including procuring land and environmental clearances.”
 
Highlighting the changes brought about by his government in the duty structure, he explained that earlier there was a difference in the duty between raw materials and finished goods. This has been changed. “We hope all industries will appreciate this,” Ahir said.
 
India has witnessed transformation in the pharmaceutical sector in the last 50 years. While India was dependent on other countries for its pharmaceutical requirements until 1970, by the 1990s, the country became self sufficient to meet its local requirements. Today, India is considered to be a superpower as far as generic drugs are concerned.
 
As per a FICCI report, India can become a $ 300 billion industry by 2030. “This is a herculean task, but possible. We should reach this level. Industry must sort out its problems, to achieve this milestone. There is need to focus on innovation and infrastructure. If we concentrate on states where growth is less, we should be able to achieve the infrastructure requirements of the pharmaceutical industry. The central government is working in close coordination with the state governments to achieve this,” informed Dr V K Subburaj, Secretary, Department of Pharmaceuticals.
 
The pharmaceutical industry of India is staked to become a global manufacturing hub and a future global innovation hub.
 
Urging to make ‘Brand pharmaceuticals made in India’ as a punch line just like ‘brand India’, Rajiv Modi, CMD, Cadila Pharmaceuticals Ltd, said, “Make it a benchmark. Let Indian standards be escalated to be better than the best.” But he cautioned that among the major issues, there has to be a bold step towards abolishing price control. “Only then will the investor appreciate the return on investment,” Modi added.
 
According to K G Ananthakrishnan, MD, MSD Pharmaceuticals Ltd, the stage is set to take the pharmaceutical industry to the next level and transform India into a global design and manufacturing hub.