Press Release Details
India's Pharmaceutical Armada
October 8, 2012 - Madrid, Spain:
Having gained Focus Country status for CPhI exhibitions held globally, world's largest generic medicine manufacturer, exporter India will be the cynosure of all eyes with its 'Brand India Pharma' campaign at the upcoming three-day CPhI Worldwide pharmaceuticals event, to be held in Madrid from October 9-11.
CPhI Worldwide is the largest pharmaceutical trade exhibition organised each year by the UBM Group. CPhI Japan, held during March 21-23, 2012 in Tokyo, was the launch-pad for the 'Brand India Pharma' campaign. The campaign is a significant initiative being led by Pharmexcil (Pharmaceutical Export Promotion Council) and IBEF (India Brand Equity Foundation) under the aegis of the Department of Commerce, Government of India, to highlight the value proposition that 'Brand India Pharma' presents today globally.
Participation from over 200 Indian pharmaceutical companies is expected at CPhI Worldwide. The Indian presence at Madrid will be led by Mr S R Rao, Commerce Secretary, Ministry of Commerce and Industry, Government of India, who will be accompanied by senior officials of the Department of Commerce and a large Indian business contingent.
India is making massive strides in the pharmaceutical sector at a growth rate of 10%. India's current pharmaceutical market size is around US$ 11 billion and is expected to reach US$ 74 billion by 2020, as per a PwC report.
India aims to double its exports to reach US$ 500 billion by 2014, the share of pharmaceutical exports is expected to be a robust 5% of the total target at US$ 25 billion.
The Government of India has undertaken various initiatives to bolster growth in the pharmaceutical sector. Specifically, steps like tax incentives and grants for bio-technology start-ups, permitting 100% FDI (Foreign Direct Investment) in pharmaceutical sector, and the unveiling of a plan to set up a Rs 2,000 crore venture capital fund to promote drug discovery and strengthen infrastructure have had far reaching effects in making 'Brand India Pharma' synonymous with credible, affordable and sustainable healthcare.
For further information please visit http://www.brandindiapharma.in/
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.