A two-day national exhibition of pharmaceutical and nutraceutical industries in south India, ‘Pharmac South-2015’ was held at Chennai Trade Centre recently with participants deciding to augment their contribution in the next fiscal. The theme was ‘Destination for innovative and reliable formulations and healthcare products’.
While inaugurating the expo, secretary, department of pharmaceuticals, Ministry of Chemicals and Fertilisers, V.K. Subburaj, said “It is a good sign that the export of drugs from the country has crossed Rs. one lakh crore. However, more efforts are needed from them to raise it over the next 10 years.”
While urging the pharma industry to spend more on research and development of molecules, Mr. Subburaj said that all departments concerned are working in tandem to reduce India’s dependence on imports in the medical devices sector. The secretary said there was a need to boost the sector’s manpower to improve drug quality in India.
P.V. Appaji, director-general, Pharmexcil, said that in 2014-15, 55 per cent of Indian Pharma’s exports went to developed nations, which shows the strength of the growth.
IDMA president S.V. Veerramani said the market situation had improved.
