Pharma Industry: Reduce API Import Dependence

New Delhi, Nov 20 (PTI) Union Minister JP Nadda on Thursday called upon the domestic pharmaceutical industry to become self reliant in critical raw materials while reducing dependence on imports.

Outlining priorities for the next decade, the Chemicals and Fertilizers Minister called for reducing dependence on imported critical APIs, strengthening self-reliance, and transitioning from being the pharmacy of the world to the laboratory of the world.

In a video message at 60th Annual Summit of the Organisation of Pharmaceutical Producers of India (OPPI), he urged industry leaders to accelerate innovation in biosimilars, novel molecules, gene and cell therapies, AI-driven drug discovery, and advanced diagnostics while ensuring equity and affordability remain central pillars of India's health vision.

Highlighting India's significant progress over the last decade, Nadda underlined the country's role in supplying medicines to more than 200 countries, meeting a major share of the US and UK generic medicine demand, and fulfilling 60 per cent of global vaccine requirements.

He further highlighted landmark initiatives such as Ayushman Bharat, providing health protection to over 600 million people, and the Jan Aushadhi Kendras that have substantially reduced the cost of essential medicines.

Nadda emphasised that India is rapidly emerging as a global research and digital innovation hub, with over 1,600 Global Capability Centres—including several in pharmaceuticals and life sciences—driving cutting-edge development.

EY Parthenon, in association with OPPI, released a report on the occasion.

According to the report, the pharma industry can reach USD 450 billion by 2047 with a deeper focus on innovation, CRDMO strength, and digital capabilities in GCCs.

India's Contract Research, Development, and Manufacturing Organization (CRDMO) sector is expected to double from USD 7 billion to USD 14 billion by 2028, it noted.

India approved around 19 new drugs in 2024, which is significantly lower than in major global markets, highlighting the innovation gap, the report stated.

It cited regulatory agility and policy leadership, R&D investment and innovation financing and talent and capability development as focus areas for future growth.