Punya Salila Srivastava Calls for Innovation in Pharma Sector

On November 20, 2023, Union Health Secretary Punya Salila Srivastava emphasized the urgent need for increased innovation in the pharmaceutical sector during her keynote address at the 60th Annual Summit 2025 of the Organisation of Pharmaceutical Producers of India (OPPI) in New Delhi. She underscored the importance of forging strong partnerships between government ministries and the pharmaceutical industry to improve public health outcomes and tackle global health challenges.

Shifting Focus to Value-Based Production

In her remarks, Srivastava stated, “The need is to foster greater innovation in the pharmaceutical sector and transition from volume-based to value-based production.” She called on OPPI to intensify its focus on research and development (R&D) within India, envisioning the country as a global center of excellence in pharmaceuticals.

The summit also featured the release of a significant report by EY Parthenon and OPPI, which outlines the transformative journey of India’s pharmaceutical sector. Historically known as the “pharmacy of the world,” India is now positioning itself as a global leader in innovation and scientific research. The report highlights that pharmaceutical exports have surged from $15.07 billion in the fiscal year 2013-14 to $27.85 billion in FY 2023-24, with projections indicating they could soon exceed $30 billion.

Emerging Trends in the Pharmaceutical Landscape

According to the report, the emergence of Contract Research and Development Organizations (CRDMOs) and Contract Development and Manufacturing Organizations (CDMOs) is pivotal in reshaping the pharmaceutical landscape. The global CRDMO market is projected to reach $303 billion by 2028, growing at a compound annual growth rate (CAGR) of 9.0 percent. Indian CRDMOs are significantly investing in advanced manufacturing and analytics, positioning themselves as key partners in global R&D.

The report also emphasizes the growing importance of Global Capability Centers (GCCs), established and expanded by multinational pharmaceutical firms in India. Approximately 50 percent of leading global life sciences companies have set up GCCs in the country, leveraging local talent and advanced digital capabilities to enhance the innovation ecosystem.

As the pharmaceutical sector in India continues to evolve, the call for innovation and collaboration remains critical to addressing both local and global health challenges. The insights shared at the summit reflect a broader commitment to strengthening the industry’s role in economic growth and enhancing public health worldwide.