The 2nd edition of India Pharma & India Medical Device International Conference was held in Bengaluru.
The three day event, with the Vision – ‘For Responsible Healthcare’, was organized by the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers and Federation of Indian Chambers of Commerce & Industry (FICCI) from 11th-13th February, 2017.
Pharma industry achieved a Compounded Annual Growth Rate (CAGR) of over 15% and expressed confidence that the sector would be worth $55 billion by 2020 from the present $32 billion.
India accounts for around 20% of the World’s generic medicine supply chain, exporting to over 250 countries globally. Indian Pharma Industry provides over 60% of global vaccines.
The Indian Pharma sector has received Foreign Direct Investment (FDI) close to $14 billion and has generated employment for over 2.5 million people across India.
This was the second time Karnataka hosted this conference on Medical Device & Pharmaceutical sector.
The Karnataka state pharma industry constitutes 264 manufacturing units that include small-medium, large, public sector and multinational companies.
Karnataka stands 5th in Pharmaceuticals exports with 40% of its Pharma produce being exported overseas.