“Government of India should have a laser focus approach towards the Indian Pharmaceutical sector in India, considering that it will be the next IT industry, as it has a potential of generating a huge amount of foreign exchange, employment, technology, skilling” said Mr. Anil Khaitan, Former President, PHD Chamber in the Technical Session on ‘Enhancing the Export Opportunities in Pharma’ on the second day of the International (3D Virtual) Health & Wellness Expo & Conferences-2020 of PHD Chamber
The Second day of the International (3D Virtual) Health & Wellness Expo & Conferences-2020 of PHD Chamber commenced with the Technical Session on ‘ Enhancing the Export Opportunities in Pharma’ on 22nd August, 2020.
While the session was moderated by Dr. Dinesh Dua, Chairman, Pharmexcil, the panelists of the session included Mr. Anil Khaitan, Former President, PHD Chamber & Chairman, Sunil Healthcare Ltd and SNK Corp, Mr. Bhavin Mehta, Director, Kilitch Drugs (India) Ltd. and Dr. Samir Vyas, Director, Application Solution & Business, Agilent Technologies.
Dr. Dinesh Dua welcomed all the panelists and shared a brief detail on the Indian pharmaceutical market size and the export potential. He mentioned that the Current market size of the Indian Pharmaceutical Industry is US$ 40.6 Bn which went up from US$6 Bio in 2005 with CAGR 17%.
He added that India is the 3rd Largest exporter of formulations by volume &10th by value with an export to more than 180 countries which is 22% of Global Exports of US$ 20.58 Bn in FY-20 with a CAGR of 13%. India has also attracted 5% of Total FDIs in India which measure to Total US$ 14 Bn.
Dr. Dua also mentioned that Indian pharmaceutical companies have contributed towards better health outcomes globally with 60% of global vaccine production, 90% of WHO demands for measles vaccine, 40-70% of WHO demand for DPT (Diphtheria, Tetanus, and Pertussis) and BCG (Bacillus Calmette-Guerin) vaccines, 25% of Medicines used in the UK are made in India, 33% of Pills consumed in the US is produced by Indian generic manufacturer which is one-third of the total consumption and 37% of AIDS patients receiving treatment in 2009, vs 2% in 2003 in Africa.
Dr. Dua further added that we have Highest no.of USFDA approved sites outside USA and 90% of WHO prequalified APIs are sourced from India. Mentioning about the Global fight against Pandemic, Dr. Dua mentioned that India has supplied HCQ (Hydroxy Chloroquine) tablets to 112 nations as a Pharmacy of the world with an India Pharma Export performance of $20.58 bn in a FY 2020 with a growth rate of 7.57%.
Talking about the Accelerating India’s Export, Dr. Dua mentioned that Affordable Generics, Policy measures of Indian Government to reduce import dependence on APIs, Bulk Drug promotion scheme, PLI Schemes and regulatory convergence for optimum utilization of resources and to fast track the approvals are the important pillars to accelerate the exports.
Mr. Anil Khaitan mentioned that India has around 12.5 lac registered companies. 10 lacs companies are there whose turnover is below 250 crores which fall under the new definition of MSME and many of our Pharma Companies belong to the Pharma and healthcare sector who have benefited from the announcements made for the MSME sector by the Govt. as also the 5% interest subvention given by the Govt. to the exporters
He said that if we were to compete with China, India needs to look at high power and differential tariffs, standardising open access power the backing credit, open access power, electricity tariff with reduction of additional surcharge on power. Mr. Khaitan also mentioned about the cost of logistics which is 14% which needs to go down to at least 8% and suggested to include Diesel in GST as we talk about One country One Tax
Mr. Khaitan also talked about the improving the condition of our ports and gave an example that Singapore has a turn-around time of 4hrs for the ship to unload and load as a standard practice which is a benchmark which should be followed by India which will help exports & our competitiveness at large and need to focus on micro level delivery.
Mr. Khaitan emphasised that our regulatory overreach, deficit of trust between Industry & Government should be tackled well so that the industry can become “Aatma Nirbhar in true sense”. Mr. Khaitan mentioned that meanwhile it is also a responsibility of Indian pharma to supply consistent quality.
“Government of India should have a laser focus approach towards the Indian Pharmaceutical sector in India, considering that it will be the next IT industry, as it has a potential of generating huge amount of foreign exchange, employment, technology, skilling” says Mr. Anil Khaitan, Former President, PHD Chamber
Mr. Bhavin Mehta emphasised that the Indian Pharma Industry has earned respect during the Covid period and this is the right time to grab this opportunity to grow our exports further.
Mr. Mehta specifically mentioned about the duty draw back received by the industry in China i.e. 5%, 11% & up to 12% for life saving drugs is a boost for the industry while in India it is around 3-5% only.
He has also mentioned about power charges corrections which is required in Maharashtra and are probably the highest
Mr. Mehta appreciated the welcome step taken by the Pharmexcil and Ministry of Commerce & Industry, Govt. of India for a 50% reimbursement in the registration charges.
Mr. Mehta also talked about the need of Indian Pharmacopoeia (IP) recognition to increase our exports.
Dr. Samir Vyas gave a brief about the Agilent Technology’s footprints at global as well as India level and how Agilent can add values towards increasing the pharma export. He has also mentioned about the immense focus on compliance network and emphasized on Credibility, Competitiveness, Connect & Collaboration to accelerate the exports. Dr. Vyas also agreed to Mr. Khaitan’s view for the Government to have a laser focus for the Pharmaceutical Industry considering it to be the next IT industry of India. Dr. Vyas also mentioned on the importance of quality and compliance in the entire value chain of the pharmaceutical industry.
The session was live through Zoom, YouTube, the Conference platform of 3D Virtual Health & Wellness Expo and was attended by more than 150 delegates.