More than 45 pharmaceutical companies will participate in the India Pavilion at the International Pharmaceutical Expo (INTERPHEX), New York.
Taking place from 21 March to 23 March 2017, exhibitors will range from equipment manufacturers to packaging experts. India Pavilion is being organised by the Federation of Indian Chambers of Commerce and Industry, as well as the Ministry of Commerce, under the Government of India’s Market Access Initiative Scheme.
The Indian pharmaceutical industry has witnessed explosive growth driven by the pharmaceutical machinery and equipments manufacturing sector increasing at a compound annual growth rate (CAGR) of 17.46 per cent during the 2015-2016 period.
By 2020, India is likely to be among the top three pharmaceutical markets by incremental growth and sixth largest market globally in absolute size.
India’s cost of production is significantly lower than that of the US and almost half of that of Europe. It gives a competitive edge to India. Burgeoning demand for pharmaceutical products within the country and overseas is propelling the growth of the pharma machinery market in India, which is now emerging as a manufacturing hub and gaining recognition as a global destination for vaccines, bio-services, and increasingly for contract manufacturing, especially biosimilars.
India is participating in the international show for the second time considering the success in INTERPHEX 2016. This India Pavilion initiative at INTERPHEX 2017 comes at a time when the potential of the pharmaceutical industry in India is attracting global attention and the government’s Make in India programme is gaining recognition. This initiative will help create a strong global brand proposition for the Indian pharmaceutical machinery and equipments manufacturing sector.
Indian Participation at this premier event dedicated to pharmaceutical, biotechnology innovation, technology, and knowledge, will help India showcase its potential in pharma-machinery and target newer export markets fuelling growth in the pharmaceutical machinery market in India. Global demand for generics continues to grow and more investments are expected to flow in this segment, paving way for a significant expansion of this industry.
India currently exports pharmaceutical machinery and equipment to more than 80 countries globally, with the USA, UK, Middle East, and the EU being key export destinations. Around 800 pharmaceutical equipment and machinery manufacturing units serve the demand of a $30bn domestic pharmaceutical industry. The industry shows high-potential with capacity addition for generics production in the country.
The India Pavilion at INTERPHEX 2017 will exhibit the highly diversified strength of the pharmaceutical machinery sector from companies that manufacture active pharmaceutical ingredients (API), advanced intermediates, pellets, and pharmaceutical coils to fully automatic blister packing machines.
An important feature of the India Pavilion at INTERPHEX 2017 will be the business to business (B2B) sessions, which will provide Indian businesses a platform for networking and development in the USA, facilitating alliances and joint ventures among Indian and US companies, as well as identifying focus areas requiring a targeted approach for building commercial linkages.