Whalesbook
Commerce Secretary Rajesh Agrawal ne India ke pharma industry ke liye ek bada target set kiya hai: apne desh mein hi 80-90% zaroori medicines aur Active Pharmaceutical Ingredients (APIs) banana. Ye decision global supply chain mein chal rahi gadbadi aur geopolitical tension ko dekh kar liya gaya hai. India medicines ki volume mein toh world mein top par hai aur FY2024-25 mein $30.47 billion ka export bhi kiya hai. Par asal problem yeh hai ki hum raw materials, especially APIs, ke liye boht zyada import par nirbhar hain. Aur ismein China ka hissa sabse bada hai, lagbhag 70-74% APIs toh hum wahin se mangwaate hain, aur kuch essential medicines ke liye toh aur bhi zyada. Is dependence se supply mein rukavat aur price hike ka risk rehta hai. Isko theek karne ke liye, govt ne PLI jaise schemes shuru ki hain jismein APIs aur drug intermediates banane wali companies ko paisa mil raha hai, aur bulk drug parks bhi banaye ja rahe hain.
Sun Pharmaceutical Industries, Cipla Ltd., aur Dr. Reddy's Laboratories jaise badi Indian companies ab biologics aur biosimilars jaisi high-value cheezon par zyada focus kar rahi hain. Indian biologics market 2025 tak $12 billion tak pahunchne ka andaza hai, aur iski growth rate (CAGR) 22% rehne ki ummeed hai. Biosimilar market bhi tezi se badh raha hai.
Par 80-90% self-reliance ka target achieve karna itna aasan nahi hai. Naye API manufacturing plants lagane ke liye billions of dollars ka investment chahiye hoga. PLI schemes investment toh la rahi hain, par bulk drug parks 2026 tak fully operational nahi honge, matlab tab tak import par nirbharta bani rahegi. India generic formulations mein toh best hai, par complex APIs mein China aur doosre deshon se piche hai jahan unka technology advantage hai. Basic bulk drugs ki local manufacturing ko permanent subsidies ke bina China ke established suppliers se compete karna mushkil hoga.
Aur toh aur, domestic APIs banane wale bhi essential starting materials (KSMs) ke liye 60-90% tak China se hi sourcing karte hain. Government ke initiatives, jaise land acquisition aur environmental clearances mein delays bhi progress ko slow kar rahe hain. Middle East mein chal rahi geopolitical instability ne kuch raw materials aur packaging ke input costs ko 200-300% tak badha diya hai, jisse medicines par price caps face karne wali companies ke margins par pressure aa sakta hai.
Analysts ka kehna hai ki Indian pharma sector FY2026 mein 7-9% revenue growth dikhayega, jismein domestic demand aur Europe ke exports ka contribution hoga. Operating profit margins 24-25% ke aas paas stable rehne ki ummeed hai. R&D spending revenue ka 6-7% hi rahega, aur complex molecules par focus badhega. 'Biopharma SHAKTI' jaise government initiatives biologics sector ko boost karne ke liye hain, jiska target global market ka 5% share hai. Agar API production aur supply chain resilience ki challenges ko effectively manage kiya gaya, toh ye strategic investment India ki global position ko mazboot kar sakta hai.