The Pharmaceuticals Export Promotion Council (Pharmexcil) has invited small and medium enterprises to participate in the three-day pharma exhibition 'iPHEXIS 2014', which will begin on May 21, in Mumbai.
"Govt. is taking care of the pharma industry. "iPHEXIS 2014" is inviting more and more SMEs in this exhibition. More than 400 SMEs have already showed their interest in it. We want new faces, new companies in this industry," Director Genral of the Pharmaexcil PV Appaji said in a press conference of in New Delhi on Tuesday.
Last year a significant no. of SMEs had participated in the exhibition. About 70 percent of stalls were to SMEs.
"The buyers were excited to find new suppliers since this will reduce the cost of procurement and will also reduce health care cost," Bhavin Mehta Committee Chief of iPHEX and CoA member, Pharmexcil further added.
SMEs are playing very pivotal role in Indian pharma industry and its growth as they contribute about 35-40 percent to the industry in terms of production with a turnover of about Rs 35,000 crore.
A report of Indian MSMEs of 2013 also strengthened the fact that how importantly SMEs are supporting the entire pharmaceutical industry in India and its export in other countries.
"The Indian pharmaceutical industry is highly fragmented and estimated to have 9,456 units in the SME segment, which account for around 87 percent in production by volume and 40 percent by value." report said.
In terms of number of units and employment generation, the SME sector is at the forefront. They also support 48 percent of the country's pharma exports, the MSME report added.
There are more than 24,000 registered units, which meet 70 percent of the country's needs. Clearly, MSMEs operating in the domestic pharma sector are recognised as the backbone of the industry.
iPHEX2014" is expected to attract and make SMEs ready to get participate in in this three days. Last time exhibitors almost had done the 1000cr business in in given days.
"iPHEX" is not only a event, it is a place where buyers and sellers meet, make them confident and give them more than 100 choices. "iPHEX" 2013 had witnessed more than 7500 meetings in three days exhibition.