Jessubhai Media in association with FAPCCI organized an Business Networking Meet on ‘ChemTECH World Expo 2013’ on 25th May 2012 at Federation House, Red Hills, Hyderabad. Mr. M. Gopinath, ITS., Regional Joint Director General of Foreign Trade was the Chief Guest for this occasion.
Mr. M. Gopinath, ITS said in his chief guest address is that the India's pharmaceutical sector is gaining its position as a global leader. The pharma market in India is expected to touch US$ 74 billion in sales by 2020 from the current US$ 11 billion, according to a private research house report. The drugs and pharmaceuticals sector attracted foreign direct investments (FDI) worth US$ 9,173.50 million between April 2000 to February 2012.
Mr. Devendra Surana welcomed the dignitaries and said that Indian Pharmaceutical industry has seen a healthy growth of CAGR of about 12 per cent in the last 5 years and expected to maintain a strong growth momentum in the years to come. Petrochemicals form around 22 percent of the India's total chemical production and this segment has witnessed phenomenal growth in the past last decade. Andhra Pradesh has emerged as the most preferred destination for investment among other states. AP is a hub for pharma and biotech companies because of the vast number of research institutes has worked well for the state as it has managed to draw several international and domestic companies to set up their base.
Mr. Chakravarthi, AVPS, Chairman, IIP spoke that - more than 1/3rd of US FDA approvals are from India, Indian Pharma industry is emerging as a major generic player in the global market. Hyderabad, being the Pharma capital of india plays major role, both in formulations and bulk drug industry. The exports of formulations is having a compounded annual growth of more than 21%. Also by 2015, about 150billion USD worth of drugs are set to lose exclusive patents. Indian companies, being self disciplined and the cost of manufacturing is relatively low, this is the right time for exploring this opportunity.
Usually major Pharma companies spent huge expenditure on R&D (as much as 20% of revenues). For Indian companies, of course it's an uphill task to catch up, yet they need to find different ways to be on the global arena. It's ideal to have a launch function of Chemtech show and conferences at Hyderabad and it's a big opportunity for the current and potential entrepreneurs from Andhra Pradesh to actively participate and get benefited.
The ‘ChemTECH World Expo 2013’ to be held in Mumbai from January 15-18, 2013 Ms Mittravinda Ranjan, Editor, Jasubhai Media, Chemtech Secretariat said. The expo will display the state-of-the-art technologies, equipment, accessories and services from national and international players in each sector. The power packed concurrent International Conferences will deliberate on issues of topical interest to practicing professionals. Various National and International Associations have confirmed their support to the event for delegation & pavilions she said.