Indian pharma MSMEs can play vital role in international market: Daara Patel

Chennai, July 15, 2022:

The Micro, Small and Medium Pharma Enterprises in India need to be capable enough to compete well in the international markets as chances are there for them to become international sellers.
 
Export opportunities in the pharma sector are increasing in the eastern and western countries and the small scale manufacturers will have a prosperous period in the coming years, feels Daara B Patel, secretary general of the Indian Drug Manufacturers’ Association (IDMA).
 
While addressing the small scale pharma entrepreneurs in Chennai, he said time has come for the world population to think of Indian made drugs. Even now, when people in any country in the world talk about medicines they think about India. One out of the three drugs consumed by a patient in any part of the world and one vaccine out of the three vaccines administered to a child in any country are made in India.  So, the future is the prosperous period for Indian pharma and the SMEs can play vital roles.
 
Encouraging the entrepreneurs to become international players, the pharma association leader said the Indian small scale pharmaceutical manufacturers have to think globally to become exporters. The Indian drug manufacturers association is confident that all the SME entrepreneurs will come forward to become exporters in order to make a prosperous future for the country’s pharma sector.
 
According to him, the Indian pharma sector has more potential to grow globally for which the MSME units can contribute a lot. The industry needs an ecosystem of innovation for utilizing its full potential. In the last two decades’ period the Indian pharma witnessed 10% growth. But in the Covid-19 pandemic the industry could utilize only 20% of its total capacity.
 
Releasing a special edition of IDMA bulletin on its 60th year celebration, Patel informed the industry people that the association has instituted several awards to support the industry and innovation in pharmaceuticals. This year two industry stalwarts, one from Chennai and one from Kolkata have been honored with the ‘N I Gandhi Chief Mentor Award’. The CMD of the Chennai based Fourrts India Laboratories, S V Veermani and the managing director of Strassenburg Pharmaceuticals in Kolkata, Deepnath Roy Chowdhury were the recipients this year.
 
IDMA also honours industry leaders with Corporate Citizen award and students of pharmacy with Best Student Award. All these honours will be extended to all the parts of the country with state boards’ support.
 
Talking about the membership strength of the IDMA, Daara Patel said the association has crossed the numeral 1,100 in membership number. He expressed the hope that before long, one third of the drug manufacturers in the world will be from India. Pharmabiz