Context

• Minister of State for Health and Family Welfare Anupriya Patel inaugurated the 15th International Meeting of World Pharmacopoeias (IMWP), hosted by the Indian Pharmacopoeia Commission (IPC), in collaboration with the World Health Organization (WHO), in New Delhi.

About IMWP

• WHO initiated the series of "International Meeting of the World Pharmacopoeias (IMWP)" meetings in 2012.
• The IMWP is an ideal platform to emphasize the role and importance of quality aspects when speaking about access to medicines worldwide.
• A pharmacopoeia is a legally-binding collection, prepared by a national or regional authority, of standards and quality specifications for medicines used in that country or region.

Indian Pharmaceutical Sector

• Globally over 80% of the antiretroviral drugs, to combat AIDS (Acquired Immune Deficiency Syndrome) are supplied by Indian pharmaceutical firms.
• The Pharma sector currently contributes to around 1.72% of India's GDP.
• The Indian pharmaceutical market is estimated to touch US$ 130 billion in value by the end of 2030.
• Total market size of the Indian Pharma Industry is expected to reach US$ 130 billion by 2030 and US$ 450 billion market by 2047.
• India is among the top 12 destinations for biotechnology worldwide and 3rd largest destination for biotechnology in Asia Pacific.
• Indian Pharma ranks 3rd in pharmaceutical production by volume and 14th largest in terms of value.
• Indian pharmaceutical companies are projected to achieve a revenue growth of 9-11% in FY25.
• Sun Pharmaceutical is India's largest drug maker by revenue.

Achievement of Indian Pharmaceutical Sector

• India is the world's largest supplier of generic medicines by volume.
• India is the world's largest supplier of vaccines by volume.
• Sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK.
• India is known as the "pharmacy of the world" due to the low cost and high quality of its medicines.
• Hyderabad is known as the "Bulk Drug Capital of India".

Government Schemes/Initiatives

• Scheme “Strengthening of Pharmaceutical Industry (SPI)" with a total financial outlay of Rs. 500 crore, extends support required to existing pharma clusters and MSMEs.
• The Government has set a target to increase the number of Pradhan Mantri Bhartiya Jan Aushadhi Kendras to 10,500 by March 2025.
• The PLI scheme for pharmaceuticals is being implemented with a total outlay of Rs. 15,000 crore (US$ 2.04 billion) spanning from 2020-21 to 2028-29.
• Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) achieved sales of Rs.1,000 crore (US$ 119 million) in October 2024.
• In March 2024, Union Minister for Chemicals & Fertilizers and Health & Family Welfare Dr. Mansukh Mandaviya inaugurated 27 greenfield bulk drug park projects and 13 greenfield manufacturing plants for medical devices.
• Up to 100%, FDI has been allowed through automatic route for Greenfield pharmaceuticals projects.
• Scheme for the Promotion of Research and Innovation in Pharma (PRIP) MedTech Sector: Time period 2023-24 to 2027-28 with a total outlay of Rs. 5,000 crore (US$ 604.5 million).
• The Department of Pharmaceuticals has set up 7 National Institutes of Pharmaceutical Education & Research (NIPERs) to impart postgraduate and doctorate education.
• “National Policy on Research & Development and Innovation in Pharma-MedTech Sector in India” launched in August 2023, to encourage R&D in pharmaceuticals.

Indian Pharmacopoeia Commission

• Founded: 1956
• HQ: Ghaziabad, Uttar Pradesh
• Autonomous Institution
• Nodal Ministry: Ministry of Health and Family Welfare
• Function: Sets standards for all drugs that are manufactured, sold and consumed in India.