India, recognized as the pharmacy of the world, has significant potential to further integrate into the global value chain and enhance its pharmaceutical exports, according to Sunil Barthwal, secretary of the union ministry of commerce and industry.
He highlighted that the department of commerce has identified the pharmaceutical sector as a key area of focus. Barthwal suggested that, similar to the mobility chain established by the automobile industry, a healthcare sector value chain could be developed to significantly boost pharma exports.
He explained that the automobile industry’s success in increasing exports and accessing new markets stemmed from the creation of a comprehensive mobility chain, which included all related component manufacturers such as tyre producers, engine makers, and steel suppliers.
Barthwal proposed that the pharmaceutical industry adopt a similar approach by integrating medical instrument manufacturers, diagnostic services, hospitals, and other healthcare components into a cohesive value chain. This approach would allow India to offer comprehensive healthcare packages to the global market, covering both pre and post-treatment care at affordable prices, while still maintaining a strong focus on pharmaceutical manufacturing.
As reported by medindia.net, Barthwal also emphasized the potential for expanding pharmaceutical trade and providing affordable healthcare to various countries, particularly in Africa. He urged the pharma industry to explore opportunities in emerging markets.