India's Ambitious Pharma–Export Growth Targets
Sustaining this explosive growth has been a commitment to nurture the next generation of scientists and the Department of Pharmaceuticals has set aside US $ 478.4 million to set up 10 more National Institute of Pharmaceutical Education and Research (NIPER).
“India’s pharma industry has undergone a sustained period of consolidated expansion, thanks to the Government’s ability to facilitate policies and economic conditions that have fostered growth. This development is timely. When nations across the globe are grappling with increased resource requirements for growing healthcare needs, Indian pharma offers credible and affordable healthcare solutions. It is working in niche space and we would like to create better and deeper understandings of Indian pharma amongst more and more countries and communities to evaluate, adopt and fulfil their healthcare commitments to the people at large,” commented Ms Aparna Dutt Sharma, CEO of Indian Brand Equity Foundation (IBEF).
From Generics to Quality Products
“What is most remarkable about growth in our export of generics is not just the sheer numbers involved but thanks to our expertise, quality standards and cost effective manufacturing techniques, we have also been able to lower the cost of vital medicines in the developing world. The cost of HIV/AIDS treatment was lowered to $400 per year from $12,000,” said Mr Sudhanshu Pandey, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, India.