India Emerges as Global Pharma Leader: Jitin Prasada Inaugurates IPHEX 2024

Shri Prasada urged the Indian pharmaceutical industry to strive towards becoming the healthcare custodian of the world.

Union Minister of State for Commerce & Industry, Shri Jitin Prasada, highlighted India's emergence as a world-class, cost-effective healthcare destination and a global pharmaceutical leader. The Minister made these remarks while inaugurating the three-day International Exhibition for Pharma and Healthcare (IPHEX 2024), organized by the Pharma Export Promotion Council of India (CAPEXIL) and the Ministry of Commerce and Industry, today in Greater Noida, Uttar Pradesh.

Shri Prasada urged the Indian pharmaceutical industry to strive towards becoming the healthcare custodian of the world. He emphasized the importance of increasing exports and capitalizing on emerging growth opportunities. "India is already recognized as the 'pharmacy of the world,'" he said, stressing the need to focus not only on strengths in the generic sector but also on strengthening backward and forward linkages within the industry. The Minister also called for innovation and breaking new ground in product development.

The Minister encouraged the industry to prioritize innovation, quality, and collaboration with the global market. He underscored the importance of maintaining international competitiveness by staying updated with new developments and adhering to good manufacturing practices. Shri Prasada also noted that the government has introduced various schemes, such as the Production Linked Incentive (PLI) for Active Pharmaceutical Ingredients (APIs) and medical devices, to support the industry.

He further mentioned that the three-day IPHEX expo will provide a valuable platform for major domestic and international industry players to connect and conduct business. "It offers an excellent opportunity to meet new and existing customers who are actively seeking new suppliers or assessing the progress of ongoing projects," Shri Prasada added.