"In order to compete in the global arena, Indian pharma companies must offer something beyond the low-cost proposition. We must stop competing the way we are. There is a need to identify other areas, compete on quality, systems and superiority in order to convert ‘Advantage India' into tangible benefits,” Dr. M Venkateswarlu, Drugs Controller General, Government of India emphasized today at the CII Pharma Summit 2006: ‘India Pharma Inc. – Competing Globally.'

Dr. M Venkateswarlu who was the Summit's guest of honour, released the CII-KPMG Study on ‘India Pharma Inc. - Competing Globally'.

In his inaugural address, Dr. Venkateswarlu stressed on the need for regulatory authorities and industry stakeholders to interact and interface on a common platform facilitated by CII to debate, discuss and evolve a consensus on pending issues like clinical trials. He also said that making research more attractive was critical for growth. Indian companies need to go beyond just the cardiac and diabetes segments and address lifestyle and old age diseases, which have great potential for growth.

Commenting on the need for regulations that enable such growth, Dr. Venkateswarlu pointed out that there is a need for policies to be more proactive in nature. They need to be transparent and practical so that even the layperson can understand them. Above all, regulations should be evolved by consensus of stakeholders and in harmony with global regulations.

Elaborating on the Summit theme and its objectives, Ajay Piramal, Chairman – CII National Committee on Drugs & Pharmaceuticals, Chairman – CII Pharma Summit 2006 and Chairman – Nicholas Piramal India Ltd., said that the focus is on consolidating the learnings from last year's Summit and setting a vision for India to move up the value chain through R&D analysis. “Many sectors of the pharma industry can have a global presence,” he pointed out.

Shrinivas V Dempo, Deputy Chairman – CII Western Region and Chairman & Managing Director, V S Dempo & Co. Pvt. Ltd., highlighted the increasing FDI inflows in the pharma sector and said that consolidation would become more imperative for Indian companies in the years to follow. India has become a fast growing destination and after the patent protection era, pharma companies have increased their R&D spends. The time is right for a successful journey, he pointed out.

In his presentation on India Pharma Inc. Challenges – Future Potential, Dr Brian Tempest, Chief Mentor and Executive Vice – Chairman of the Board, Ranbaxy Laboratories Ltd., emphasized on India's R&D advantage. India has reached a turning point and this is the time to capitalize on the window of opportunity that is available, he pointed out.