From Molecules to Markets: India’s Strategy for Pharma Dominance

What are the key factors contributing to India's success as the “Pharmacy of the World” in supplying essential medicines?

I can say two things—one is cost, and the second is quality. It's typically quite challenging for both factors to function simultaneously. We know other countries are able to provide good quantities but not quality. We are able to succeed in both, and I believe this is the selling point for our country.

What role does regulatory collaboration play in ensuring the seamless export of high-quality Indian pharmaceutical products worldwide?

Regulatory aspects play a very vital role because the image of India is involved. We have to ensure that all the medicines being produced are compliant with the importing countries' regulations, so we export safe and efficacious medicines. This ensures that the people who are using these medicines benefit from them. To achieve this, we need to collaborate with both the importing country's regulators and our local body, the CDSCO (Central Drugs Standard Control Organization). It is a holistic approach where we must adhere to the specifications of the importing country and also ensure that the plants and products are approved by the CDSCO or relevant local authorities. This is a very crucial aspect that we must prioritize.

In your view, what are the biggest opportunities for India to further enhance its pharmaceutical export strategy in the near future?

Over the next five years, a large number of molecules are going off-patent in the market. I am confident that companies will be focused on working on these molecules to capitalize on their sales. The opportunity lies in leveraging these molecules going off-patent, which will be a significant growth factor for India’s pharmaceutical exports.

How can platforms like iPHEX play a role in supporting the strategic growth of India’s pharmaceutical exports?

At its core, iPHEX is about powering healthcare and connecting markets. At iPHEX 2025, we aim to promote the Indian pharmacopoeia. We want to highlight to importing countries that Indian pharmacopeia medicines are just as efficacious and effective as those based on the USP and BP (United States Pharmacopeia and British Pharmacopeia). Moreover, Indian medicines are offered at much more affordable prices due to our large domestic market, which benefits from a population of 1.4 billion people. This cost advantage is a significant factor that we aim to demonstrate through iPHEX.

How does iPHEX continue to evolve and position India as a global leader in healthcare innovation?

iPHEX 2025 will balance the focus between the regulated and non-regulated markets (Rest of the World, ROW). In the next five years, many off-patent molecules will provide innovation opportunities. Furthermore, backward engineering will be a key focus—producing our own raw materials, making our formulations, and then launching these products. This self-reliance is an essential step in strengthening India’s position in global healthcare innovation.

Can you share some of the most impactful outcomes from previous editions of iPHEX that have enhanced India’s pharmaceutical exports?

The growth we have seen in the ROW market over the last 10 years—around 9 to 10 percent—is directly linked to the continuous promotion of iPHEX. This is the thrust that even the ministry witnessed: that when we get the right buyers and the right exhibitors on a shared platform, we create value for the exhibitors as well as the country. Exhibitors often participate in many events without finding buyers, but through iPHEX, we have been able to directly connect them with buyers, making it a win-win situation for everyone involved.

 How is Pharmexcil poised to strengthen India’s presence in key international markets such as NAFTA, the EU, and ASEAN?

These markets are among the most regulated, and in addition to cost, quantities are of great importance. After China, India is one of the only countries capable of supplying bulk quantities to meet global demand. Our USP is that we can sell in quantity. For example, when Wegovy (semaglutide) faced a surge in demand in 2022, India became their go-to supplier because of our capacity to fulfill such requirements. India is consistently seen as a trusted supplier, both in terms of quantity and quality. This is the strength we continue to build on.

What role do you see events like these playing in driving global collaboration for India's pharmaceutical industry?

When we say collaboration, we look at two regulatory bodies coming together; for example, regulatory bodies from Africa, Latin America, and ASEAN coming together and understanding how Indian pharmacopoeia is beneficial to them. This would lead to either us signing an MOU with them or them accepting the Indian Pharmacopoeia. As part of the event, we plan to organize their visits to our Indian Pharmacopoeia Commission and also hold seminars in NIPER, Mohali, whereby they will understand the value proposition that we bring to them—which is beneficial for us as well as for them in order to reduce the costs. We wish to promote Indian Pharmacopoeia (IP) to the regulators who are coming to iPHEX25. We already have 12 countries who have come on board and accepted IP. This year, we are targeting another 12 to 15 countries who will realise the benefits in terms of costs by importing Indian pharmacopoeia medicines. As for the exhibition goals, we are inviting almost 740 buyers from more than 110 countries.