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Generics alone won't hit USD 450 billion goal by 2047: Dr T S Parmar
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PeethaambaranKunnathoor,Chennai
June 10 , 2026
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Achieving the widely targeted USD 450 billion valuation for the Indian pharmaceutical industry by 2047 is impossible without the active coordination of all stakeholders, including associations, government bodies, cross-functional agencies, and industry members, according to Dr T S Parmar, secretary general of the Indian Drug Manufacturers Association (IDMA).
He further stressed that relying on generics alone will not push the sector to this milestone; instead, India must aggressively promote vaccines, biosimilars, specialty active pharmaceutical ingredients (APIs), and new chemical entities (NCEs).
This critical roadmap for growth was highlighted by Dr. Parmar in an exclusive interview with Pharmabiz during his visit to Chennai last week.
Reflecting on the ground realities of the sector, the IDMA chief underscored that structural alignment must accompany long-term global ambitions. This includes navigating the ongoing regulatory transition of the revised Schedule M, which he emphasized remains mandatory for all pharmaceutical industries to elevate product quality.
Addressing the acute anxieties running through the micro, small, and medium enterprise (MSME) pharma industries regarding the implementation of these stringent Good Manufacturing Practices (GMP), Dr Parmar shared that he has actively presented industry concerns directly to the Drug Controller General of India (DCGI). However, he pointed out that because compliance and enforcement operate as internal departmental mechanisms, an industry association has a limited capacity to directly interfere in state-level regulatory implementation.
To bridge the gap between regulatory mandates and ground-level capabilities, Dr Parmar said that IDMA is fully prepared to work shoulder-to-shoulder with other major industry bodies, including the Organisation of Pharmaceutical Producers of India (OPPI), the Confederation of Indian Pharmaceutical Industry (CIPI), and the Federation of Pharma Entrepreneurs (FOPE). He pointed out that even within the Indian Pharmaceutical Alliance (IP Alliance), an association primarily representing large multinational pharma players, many companies maintain dual membership with IDMA, reflecting a shared ecosystem where quality improvement benefits all.
In line with this collaborative spirit, IDMA is systematically engaging with cross-functional national bodies like the Pharmaceuticals Export Promotion Council of India (Pharmexcil) and the Indian Pharmacopoeia Commission (IPC). A major upcoming milestone in this partnership includes a dedicated biosimilar conference scheduled to take place in Bengaluru this August, organized in direct coordination with the IPC to spark innovation outside traditional small-molecule generics.
Simultaneously, IDMA is executing a targeted support strategy to help vulnerable pharma MSMEs survive and thrive under the new quality regime. Dr Parmar revealed that a brief discussion was recently held with Pharmexcil director general Dr Rajabhanu to streamline export coordination, focusing strictly on licensing clarity and technical guidance. In addition to this, IDMA is advancing talks with the Life Sciences Sector Skill Development Council (LSSSDC) to establish training workshops and institutional upskilling collaborations, ensuring the next generation of pharmacy professionals is fully equipped as the skilled, industry-ready manpower essential for global quality harmonization.
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