Govt to set new packaging standards for pharma exports
The Centre has directed the Indian Institute
of Packaging (IIP) to set new packaging standards for pharmaceutical exports to
African and Asian countries.
"As
directed by the government, IIP is developing packaging standards in
consultation with leading pharma firms for exports to African and Asian
countries. The new packaging standards will be ready by next year,"
Joint Secretary in Department of Commerce, Sudhanshu Pandey told reporters
after inaugurating the workshop on 'Packaging of Pharmaceutical & Its Safety Aspects".
The decision was taken after a big
pharmaceutical order from India got rejected by Vietnam and product was
recalled due to packaging issue, Pandey said. "The government will ensure the regulatory body will adhere to the new
packaging standards. There can be no compromise on the regulatory standards,
quality parameters," he said.
Packaging sector is one of the booming areas
of the Indian economy. There is tremendous growth in Indian pharmaceutical
manufacturing, which also cater to the requirements of the global
pharmaceutical industry, IIP Director N C Saha said. IIP is a national apex
body under the Ministry of Commerce and Industry, with the specific objective
of improving the packaging standards in India.
The country's pharmaceutical sector is the
third largest in terms of volume and thirteenth largest in terms of value.
India is the largest provider of generic drugs globally with the Indian
generics accounting for 20 per cent of the global exports in terms of volume.
Domestic pharma industry is expected to grow over 15 percent per annum to
outperform the global pharma industry, which is set to grow at an annual rate
of 5 percent, Saha said. The market is expected to grow to USD 55 billion by
2020, thereby emerging as the sixth largest pharmaceutical market globally by
size, Saha added.
Indian packaging industry is capable of
meeting the global expectations. This has been a major factor in the success
story of Indian pharmaceutical manufacturers and exporters, despite of having
high demanding standards of the importing countries especially by the developed
countries. In today's consumer - driven market, even pharmaceutical packaging
can influence a customer's choice, based on its appearance and attributes, he
said. In competitive market, with the continually rising pharmaceutical and
healthcare segment in the country, there will be an enormous demand for
packaging materials with effective functional properties and systems to augment
the shelf life, retain efficacy and ascertain the brand representation for
various products. This will go a long way in fulfilling the consumer's
expectation of safety, particularly with the additional features of tamper
evident and anti-counterfeit.
Comments
Post a Comment