The Ministry of Commerce and the Pharmaceutical Export Promotion Council (Pharmexcil) will organise the annual flagship export promotion event, iPHEX, in New Delhi during May 8-10, 2018. The main focus of the trade show-cum-conference will be to reach out to global buyers and even more importantly regulators in the key markets, including the US and Europe.

“Several key regulators will make presentations before the exporting firms about the fast-moving changes in compliance parameters and stricter specifications. This would help our exporters upscale their quality and other standards,” Ravi Uday Bhaskar , Director-General, Pharmexcil, said in a release issued here on Wednesday.

The B2B sessions would unveil the new opportunities and the changing business paradigm in the highly developed and regulated markets. The roadmap for the new markets in Asia would also be available. About 300 exhibitors and 600 overseas buyers, along with regulators from 120 countries, would participate in the event that will also witness 10,000 business visitors.

EXPORTS

For a combination of factors, pharmaceutical export growth has been rather lacklustre for the last couple of years. About $17 billion exports form a major part of the Indian pharmaceutical industry’s turnover of about $33 billion. The country has built a global brand as ‘Pharmacy of the world’ with about 930 recognised pharmacy colleges, 1400 WHO GMP approved manufacturing units, and the highest number of USFDA approved plants outside the US.

The developed and regulated markets of the US and Europe account for 35 per cent and 16 per cent respectively of India’s total pharma exports. “According to a study, lower production costs and abundant availability of scientific and technical manpower are the principal growth drivers for the Indian pharmaceuticals industry,’’ Uday Bhaskarsaid.

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