TS to contribute 40% of Indian pharma business

Published on May 12, 2015 00:34:52 AM
Business
Telangana government is trying to increase the share of pharmaceutical business in the country from current level of 20 per cent to 40 per cent, in near future, said C Laxma Reddy, Minister for Health, Medical & Family Welfare, Government of Telangana, during a curtain raiser of the Indo-Global Pharma Expo and Summit 2015 to be organised by Indus Foundation here on July 23-26, 2015. One third of Indian Pharmaceutical market is from Telangana and AP states.

Both the states contribute nearly 33 per cent of the national market. The 11,000 acres of land allocation for Pharma city by the Telangana government will further boost the State to contribute 40 per cent of the Indian pharma business, the minister claimed. He assured all the help for the proposed Pharma Summit. Speaking at the event, P V Appaji, director general, Pharmaceuticals Export Promotion Council said, "India is the pharmacy of the world.  Our pharmaceutical products are exported to nearly 220 countries of the world.

India’s pharmaceutical market will touch $35.9 billion by 2020.  It will be more than double from the current year’s $18 billion. We have already reached out targets.  We are registering excellent growth. The domestic market is put at `80,000 crore. We have already registered 15 per cent growth at `1 lakh crore during 2014-15.” "US contributed around 13 per cent last year despite various regulatory issues compared with 18 per cent earlier. We are not dependent on overseas distributors. Some of our Indian companies have opened their subsidiaries in other countries in which case the export of goods is shown as stock transfer," Appaji added.

He said that in a bid to penetrate Japanese generic drug market, which is said to be the second largest drug market after the US, the Indian government is trying to convince Japanese drug makers about the capabilities of Indian pharma industry.