MINISTRY OF COMMERCE AND INDUSTRY

India is world-class cost-effective healthcare destination and global pharma leader: Jitin Prasada

According to the Ministry of Commerce and Industry, speaking at the inauguration of the three-day International Pharma and Healthcare Exhibition (IPHEX 2024) organized by the Pharma Export Promotion Council of India (CAPEXIL) and the Ministry of Commerce and Industry in Greater Noida, Uttar Pradesh, Prasada called on the Indian pharmaceutical sector to aim to become the global healthcare steward.

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Underlining strengths of Indian pharma, Appaji said that as on February 2016, as many as 631 sites have complied with EU GMP while 605 sites were registered with USFDA as on April 2015.
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The pharmaceuticals market in India, valued at $20 billion in 2015, is set to soar to $55 billion by 2020, representing an impressive Compound Annual Growth Rate (CAGR) of 22.4%, says research and consulting firm GlobalData.