India reputation findings released as CPhI & P-MEC India set to welcome 50,000 pharma executives.
Amsterdam, November 12, 2017: CPhI & P-MEC India – organised by UBM – is set to welcome more than 50,000 attendees as the CPhI Global Pharma Index shows the country’s efforts to improve its reputation are paying dividends. India emerged successful in a number of key areas and was ranked by international pharma companies as the third most competitive nation globally.
The inaugural CPhI Global Pharma Index – a reputation audit – draws on the insights of 500 international pharmaceutical companies from over 40 countries to rank the major pharma economies out of ten across a spread of criteria.
These findings are announced as the 11th annual CPhI & P-MEC India 2017 is set to open later this month in Mumbai (27-30th November, 2017). It is a key time for the Indian industry, with the second India Pharma Week* returning (November 25-30th, 2017), which will feature seven events covering the entire pharma supply chain in India, leveraging Mumbai’s status as a major pharma hub. Such has been the growth in India over the last year, CPhI & P-MEC India now runs across two exhibition centres simultaneously – the Bombay Exhibition Centre (BEC) and the MMRDA Grounds (BKC) – and has expanded from a three- to a four- day event.
A more detailed analysis of only domestic respondents showed that the vast majority, 80%, were either ‘confident’ or ‘extremely confident’ in their business outlook for India’s market in 2018. Notably, the CPhI report also found that 88% of respondents in India ‘were looking to work with foreign partners in 2018’, with on average 50% of sales to foreign companies. Highlighting this increased internationalization, exhibitor numbers have grown by more than 200 companies in the last year, with the 2017 event featuring 1400 exhibitors from over 100 countries.
“Ultimately, the fundamentals of progression in the country are extremely strong – boasting over 24,000 pharmaceutical companies, and 10,500 plants – coupled with Government support, increased investment and an improving regulatory reputation, there is a real sense amongst attendees at CPhI & P-MEC India that the country’s pharma sector is preparing to enter the next stage in its advancement. This event is the perfect place for companies to explore the latest trends and innovations the market has to offer and meet the movers and shakers in the domestic and international pharma machinery, technology and ingredients industries,” commented Rutger Oudejans, Brand Director Pharma at UBM.
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