India better-positioned than China: Ranbaxy
But India needs to address issues like infrastructure and pollution to maintain the momentum, the company says.india Updated: Sep 14, 2006 19:33 IST
India was better positioned than China on various parameters to reach the centrestage in the global pharma industry, but needed to address issues like infrastructure and pollution to maintain the momentum, Ranbaxy Chief Mentor Brian Tempest said on Thursday.
Addressing a CII-meet on pharmaceutical industry in New Delhi, he said the country was moving ahead at a rapid pace in the global arena and has the potential to become a 'global strategic asset' for the pharma industry.
"India's 50 per cent population below the age of 25 years is going to act as a secret weapon in future, while the one-child policy in China will play a spoilsport," he said, economic fundamentals are also expected to favour India in the days to come.
Maintaining that all the fundamentals were very strong in India and the regulatory framework has, over the years, changed a lot for the better, he said qualified scientists and engineers have made it a better place for R&D investments.
"However, infrastructure is a potential risk for India and if it does not improve in the next three to four years, it will really limit the growth of the industry," Tempest said.
Echoing Tempest's view, John Morris, Global Chair, Pharma, KPMG said that global pharma players were eyeing the Chinese generic market and the time was ripe for Indian companies to start doing the groundwork for entering the market in a big way, since it has the necessary expertise.
"India has really the advantage to make a mark in Chinese market. But, how long the advantage will last is a big question, since all are eyeing into that market," he added.
Morris added that the Indian drug market needs to transform itself and a change in the legislation was also called for.