Curtain raiser for ‘Indian Pharma 2017’ and ‘Indian Medical Device 2017’

At the curtain raiser for the expos “Indian Pharma 2017” and “Indian Medical Device 2017” at Bengaluru. The two international expos will be held in Bengaluru in Feb 2017. The theme for “Indian Pharma 2017” is “Shaping the future of Indian Pharma” and the theme for “Indian Medical Device 2017” is “Shaping the future : Making the right choices”.

Highlights of my speech

*** The Pharma industry is a sunrise industry in India with a current size of around $30 billion. The Pharma market in India is the 3rd largest in the world by volume. India can be proud of being the manufacturer of one in every five medicines consumed across the world. On the strength of key policy initiatives of the government, the Pharma industry is expected to double its turnover to $55 billion by 2020.

*** The vision of the Department of Pharma is to achieve health security for every citizen in India by ensuring the Authenticity (Quality), Affordability and Accessibility of essential medicines to the common man. This is the ‘3A’ approach.

*** The expo is like the “Pharma Kumbh” of the world where manufacturers, marketers and regulators from around the world gather on one platform. For the 2nd year is a row, Karnataka is the host state and Chattisgarh is the partner state.

*** While India ia an international leader in formulations, it must improve its prowess in bulk drugs (active pharmaceutical ingredients) and medical devices. The “Make in India” vision laid down by Hon’ble PM Shri Narendra Modi should be our guideline for becoming self-sufficient in bulk drugs & medical devices. The Centre will come up with an improved scheme for Pharma and Medical Device Industrial Parks.

*** As a suggestion to my counterparts in Karnataka, CM Shri Siddaramaiah and Minister for Industries Shri RV Deshpande – if Karnataka can come up with about 200 acres of land, the Centre will actively consider a proposal to provision a Pharma and a Medical Devices Park for Karnataka.