Perspectives on Indian Pharma Industry
Dr Appaji Perespectives on Indian Pharma Industry
Q) The general consensus is that Indian outsourcing and exports are pushing ahead again, does this marry with the growth rates that your members have reported?
Ans: Some of India's exporters have established manufacturing units of their own/JVs at overseas and are catering to those countries on par with their local companies. Exports, though, were growing by slower rates during the last 2 years. Exports growth is now on course, during the current financial year.
Q) What new export markets are opening up, and which are showing the best growth rates over the next few years?
Ans: India today exports to over 200 countries/Colonies. Presently our exports are mostly in the regions of North America, Africa (Especially Anglo phone group), Europe and Asia. There is now an increase in Francophone markets of Africa though not very significant. We are looking at Japan and Algeria as a potential prospect. Oceania which was not completely focused is gaining importance in our members’ priorities. ? Exports to LAC are growing very well. There are more markets also in this region which are only partially being tapped.
Once the issues of CIS is settled the rapid strides Russia and other member countries of this region are making, also offer sizable potential.
Q) Do you see any trends driving India's growth in exports?
Ans: Highly regulated markets are opting for more of finished dosage formulations from India. This would help build our exports by value.
Q) What new technologies and services are being invested in by members?
Ans: Newer technologies of controlled release substances and dvice delivery mechanisms like inhalers and medicine- prefilled syringes are being focussed. India companies have obtained market authorisations for inhalers from advanced countries like USA, Europe( Germany). Russia from CIS also granted market authorisations for inhaler delivery system for mechanism for managing asthma. These products are of high value and are used more frequently in those destination countries. India's exporters are also successful in filing products under 505 (2) (b).
- Dr. P. V. Appaji