MSMEs in Pharma Must Invest in Technology: Pharmexcil DG

Hyderabad: Emphasizing a significant gap between small and large business setups in India's pharmaceutical sector, Raja Bhanu, Director General of Pharmaceuticals Export Promotion Council of India (Pharmexcil), highlighted the critical need for technology investment among Micro, Small & Medium Enterprises (MSMEs) to maintain high quality standards and reinforce India’s global pharmaceutical leadership.

In his keynote address titled "Navigating the Future of Pharmaceutical Exports" at the second edition of ET Pharma Next Gen LabCon event, themed ‘Future-Ready Labs: Analog to Digital,’ Bhanu elaborated on vital aspects of pharma trade and provided actionable recommendations for individual and industry growth.

Bhanu underscored that for India to sustain its dominance in the pharma sector, MSMEs must adopt advanced technologies for early error detection and quality assurance. Technologies such as automation, data analytics, and artificial intelligence are essential to achieve globally acceptable quality standards.

With an ambitious target of reaching $120 billion by 2030, Bhanu stressed the need for India to diversify beyond small molecules into biosimilars, complex generics, and gene therapies. He emphasized that India's products must balance quality and affordability to meet global demands for high-standard products at competitive prices.

Addressing long-standing concerns over Indian drug safety, Bhanu stated that quality control is fundamental to the industry. He warned that delays in addressing quality issues compromise the credibility of individual players and the entire sector, leading to national losses.

Bhanu called on equipment manufacturers to integrate artificial intelligence (AI) and machine learning (ML) into both advanced and simpler equipment to promptly identify and address issues. He advocated for domestic production of such equipment, combining IT, biotechnology (BT), and pharmaceutical technology (PT) with appropriate software.

Sharing insights on global trade norms and importers' perceptions, Bhanu stressed the importance of attributable data and contemporaneous recording to ensure product transparency and compliance with international standards. He pointed out that many product rejections in labs are often due to human error, which needs to be scientifically analyzed and controlled.

In conclusion, Bhanu emphasized that detection and quality assurance at every level determine the credibility of both the manufacturer and the product. He remarked, “The more we are tried and tested, the more we will be trusted,” reinforcing the need for consistent quality standards and technological advancements in the pharmaceutical industry.

This commitment to quality and innovation will ensure that India remains a global leader in the pharmaceutical sector, meeting the stringent demands of international markets while providing affordable healthcare solutions.