The Indian pharmaceutical industry is poised to reach $ 55 billion by 2020, of which $ 30 billion will be accounted for exports. The crucial factors to achieve the true potential of industry are affordability, strong infrastructure, and the ease of doing business. "We need to think how to create ease of doing business without compromising quality and affordability," opined Pankaj Patel, chairman and managing director, Zydus Cadila, and senior vice president, FICCI, chair - FICCI Pharmaceutical Committee, during a seminar on Indian pharmaceuticals industry at the Make In India Week event in Mumbai yesterday.
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Lauding the industry for being a world leader in generic and pharmaceuticals, and a reliable supplier of affordable medicines, Patel said, "India has the largest number of US FDA-compliant plants. The Make In India initiative is a timely response devised to transform India into a global designing and manufacturing hub. This calls for a complete change in mindset."
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Lauding the industry for being a world leader in generic and pharmaceuticals, and a reliable supplier of affordable medicines, Patel said, "India has the largest number of US FDA-compliant plants. The Make In India initiative is a timely response devised to transform India into a global designing and manufacturing hub. This calls for a complete change in mindset."
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