HYDERABAD: The bulk drugs industry is at the cusp of an evolution with start-ups and technology players getting into the value chain. Focus should also be on the environment, social issues, and governance as in the days to come the buyer countries will insist on the processes adopted in the manufacturing and packaging of drugs, said principal secretary (industries) Jayesh Ranjan.
Inaugurating the ninth edition of Pharmalytica, he drew parallels between the IT and the pharma industries. IT started as a services segment but is now seeing innovations and product development. Same is the case with the Indian pharma sector, which initially looked to tap the generics market but has now evolved into manufacture of high-end products, including vaccines. India is the pharma capital of the world but conceded the APIs market partly to China, he said.
The health, life sciences and allied sectors in Telangana are now pegged around $80 billion, he said.
"With a current value of around $50 billion, India is the third largest pharmaceutical industry in the world. Current projections are that the revenue will touch $130 billion by 2030,” said Yogesh Mudras, managing director, Informa Markets India, which is organising the three-day exhibition at Hitex.
It has more than 150 exhibitors, 6000 trade visitors, including from 15 countries.
The event is supported by Invest Telangana along with bulk drug manufacturers association of India and Karnataka drugs and pharmaceuticals manufactures associations.
