Noida – Addressing the 70th Indian Pharmaceutical Congress at Amity University, Noida , Vice President Naidu said that India becoming the largest provider of generic drugs globally with the Indian generics accounting for 20 % of global exports in terms of volume was an eloquent testimony to the competence of the Indian pharma sector in terms of quality and pricing.
The Vice President said that apart from being the world leader in generic medicines, India should promote Indian systems of Medicine. He asked young researchers to work towards standardizing and benchmarking Indian systems of medicine and establish the efficiency, validity and efficacy of these traditional medicines, using globally established experimental protocols.
The Pharma industry has posted a robust, double-digit growth over the last few years. The industry was worth US $36.7 Billion in 2017 and is projected to grow to USD 55 Billion by 2020.
