Engineering Export Promotion Council (EEPC) India, the premier council of engineering exporters, is going to be the organiser of International RBSM at India Pharma 2016. Tarvinder Singh Bhasin, Chairman, EEPC India, explains how his organisation will benefit the participants of the event. He also talks about the contribution of engineering sector in the growth of the pharmaceutical industry, in discussion with Sachin Jagdale
International reverse buyer seller meet (RBSM) at India Pharma 2016 is organised by EEPC India. What targets did you set for it?
How will EEPC India’s presence at India Pharma 2016 benefit the participants of the event?
The Indian government has taken many steps to reduce costs and bring down healthcare expenses at affordable cost. Speedy introduction of medical devices and generic drugs into the market has remained in focus and is expected to benefit the Indian medical equipment and pharmaceutical companies. In addition, the thrust on rural health programmes, lifesaving drugs and preventive vaccines also augurs well for both the segments. EEPC India, the premier council of engineering exporters, wishes to facilitate the growth and involvement of the said segments at India Pharma 2016.
How has the engineering sector transformed Indian pharma industry?
The engineering sector, particularly, the capital goods segment is the mother of the Indian pharma industry. This is more so in the medical devices and the surgical space, where the technological competence and precision engineering has helped out pharma industry compete with the global giants especially with respect to generics. This has been possible in conjuction with our IPR regime that has benefited out its ability to move ahead in the generics space.
Where does Indian pharma industry stand in comparison with their foreign counterparts as far as engineering advancements are concerned?
So far as engineering advancement is concerned, our strength is in the quality segment rather than the volume segment of precision engineering and technical sophistication. This is largely because of the nature of the engineering industry which is concentrated in the MSME segment. There is also the need to move up the value chain and the need for technology advancement is critical. EEPC India is now concentrating in this aspect so that our industry can move up the value chain and help our pharma industry to carry out R&D to join the global league.
Does EEPC India have any tie-ups with pharma organisations in India?
We work closely with a large number of organisations dealing in the domestic pharma space. This includes, among others, Association of Indian Medical Devices Industry(AIMED), Indian Pharma Machinery Manufacturers Association(IPMMA), etc.
Do you have any dedicated unit to look into the issues of pharma sector? If yes, mention in details?
As a trade and investment promotional council under the Union Ministry of Commerce and Industry, our role is that of a facilitator. As per our constitution, we have a medical devices and phama machinery panel which is dedicated to look into the issues facing this industry, particularly, from the exports point of view.
What percentage of your members deal with the pharma industry?
Three per cent of our 13000 membership strength deals with the pharma industry.
According to you, what will be the engineering related future challenges for the Indian pharma industry and what will be the role of EEPC India in that scenario?
India is emerging as a reliable supplier of medical device, equipment and pharma machinery and several international companies are exploring partnership with India. Medical devices is the sunrise industry in India registering a CAGR of 15 per cent. India is now in the limelight in some of the segment of medical device and pharma machinery space. The industry’s inherent engineering strength are being recognised by global majors who are looking to tap a wide range of products and services which are being offered by India at an affordable price. Medical tourism is another niche segment in the medical device sector which is putting India in front on the global map. EEPC India with its motto ‘Engineering The Future’ would create a road map for the related engineering industries.