By 2020, many drugs will go off patent which will further increase the generic competition in the global pharmaceutical market. India, the largest provider of generic drugs to the globe and likely to maintain its growth trajectory and capitalise on the incoming business opportunities. According to ICRA, the sector is set to grow at 11-13 per cent in FY2020. However, the industry is also undergoing transformational change and the projected growth would be observed turbulence by ever evolving regulatory reforms, pricing pressures, US FDA oversight for manufacturing deficiencies etc.
Since, it is going to be a tough phase for the Indian pharma industry, to prove the capabilities of producing low cost without compromising on the quality, it needs to examine its existing avenues to remain competitive in the sphere. Daman can become a good growth path of the Indian pharma industry and contribute considerable in accelerating the industry's growth. As many major domestic pharma companies have already stationed their export oriented manufacturing units which are meeting global regulatory requirements. Though the leisure period of tax incentives over and companies are finding difficulties in continuing its business operations from those units, still opted to remain functional. There is a dire need to bring transformation in Daman and revive the functionality mechanism to further boost the sector's growth.
Therefore, Express Pharma, the leading pharma publication from The Indian Express Group, is organising its first edition of Daman Pharma Summit on November 15, 2019, at The Deltin, Daman.
Vice-President Operations, Swiss Garnier
Daman, a Union Territory (UT) came into existence on 30th May 1987 situated on the western coast of India
Mainland Daman is bound by Gujarat’s Valsad district and is closer to mega cities like Mumbai and Surat, while the island of Diu is closer to Ahmedabad and Rajkot. Daman is having 39 industrial estates in Daman districts
The major industries are pharmaceuticals, plastic, paper and paper products wearing apparels and texturising units. According to the 2011 census, it has a total area of 102 sq kms and a population of 2.43 lakhs and the literacy rate is 87.10 per cent
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