Rajeev Singh Raghuvanshi, Drugs Controller General of India, speaking at the inaugural event of the Pharmac South Conference and Exhibition in Chennai on Thursday.
| Photo Credit: R. Ravindran
Rajeev Singh Raghuvanshi, Drugs Controller General of India, said the country has set a target of achieving $450 billion by 2047 in global pharmaceutical trade as per the vision of Prime Minister Narendra Modi’s Viksit Bharat.Inaugurating the 11th edition of the Pharmac South Conference and Exhibition held at the Chennai Trade Centre in Nandambakkam on Thursday, he said that currently, the Indian pharmaceutical trade volume stood at $60 billion out of the total global trade value of $2 trillion. He said though the $450-billion target was a big number, which was almost eight times of the present volume, it was achievable, despite a time frame of only 21 years.Mr. Raghuvanshi wanted pharmaceutical companies to change their mindset from producing generic drugs to the innovation of new products. He said: “By producing generic medicine, we have spoiled the world by offering medicine at affordable prices, but the mindset has to change from producing in volume to creating new, high value products.” Mr. Raghuvanshi urged pharmaceutical firms in south India to see this business not only with the motive of profit but also with a social mentality. Citing the drug scandal in Madhya Pradesh, he said the Central Drugs Standard Control Organisation was set to undergo structural changes in the coming years in three phases, including the in-principle go ahead for appointing 1,500 new positions for regulatory purpose. He also highlighted the importance of the role of State regulators to prevent scams.Health and Family Welfare Department Secretary Darez Ahamed said the country, which was the third largest pharmaceutical manufacturer in the world, wanted the companies to innovate in quality to attain global competitiveness. The State with its health infrastructure facility is set for a major shift from generic to new discovery of products, he added.K. Rajsekhar, Deputy Drugs Controller (India) of CDSCO South Zone, and S. Gurubharathi, Joint Director of Drugs Control cum Compounding Authority of the State, also spoke on the occasion. Published - June 04, 2026 07:22 pm IST
