The three-day expo, IPHEX, will begin on June 10 at Helipad ground in Gandhinagar
Local manufacturers for pharmaceutical products hope that upcoming International Exhibition for Pharmaceuticals and Healthcare (IPHEX) 2019 at Gandhinagar will boost export growth of pharmaceutical products from 11 per cent to about 14-15 per cent.
Gujarat, which accounts for about 31 per cent of the country’s medicine and medical products exports, will be a major beneficiary of the exhibition, they say. It is for the first time that IPHEX is being organised in Gujarat.
The three-day expo will begin on June 10 at Helipad ground in Gandhinagar. Around 700 buyers from about 130 countries have been invited by the Pharmaceutical Export Promotion Council (PHAREXCIL) to the expo.
WHAT & WHERE
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- The three-day expo, IPHEX, will begin on June 10 at Helipad ground in Gandhinagar
- Around 700 buyers from about 130 countries have been invited
- Of the 400 exhibitors, around half are from Gujarat
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“Since these buyers will be coming to Gujarat for the first time, we can showcase our manufacturing capacities to them. They will visit these facilities, which will create trust in what Gujarat and India can offer,” said Viranchi Shah, chairman, Gujarat State Board, Indian Drug Manufacturers’ Association (IDMA). Of the 400 exhibitors showcasing their products at the expo, around half are from Gujarat.
India is the third largest exporter of pharmaceutical products in terms of volumes. Country’s pharmaceutical production in 2018-19 stood at USD 39 billion, of which USD 19 billion (about 50 per cent of total production) were exports. Gujarat has a 32 per cent share in the country’s pharmaceutical production and about 31 per cent in pharmaceutical exports. Exports grew by 11 per cent in 2018-19.
Speaking about the challenges faced by exporters, Vijay Shah, chairman of IPHEX committee said that the industry had recently witnessed heavy volatility in prices of Active Pharmaceutical Ingredients (APIs), which act as raw material for medicines. “Of late the volatility has narrowed down. Prices have more or less stabilised. But they still continue to be in the higher-end. There is no impact on sales but margins of exporters have shrunk,” said Vijay Shah. Another major challenge is the quality requirements of regulators from different countries, admitted Shah.
Already a leader in the pharmaceutical industry, Gujarat is witnessing fresh investments by close to 200 units, which are expected to get commissioned in just over two years. This will bring an investment of about Rs 3,000 crore in the state. This is in addition to expansion projects being carried out by companies operating out of the state.
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