Odisha Pharma Summit 2025

Why in the News

The Odisha government will organize the Odisha Pharma Summit 2025 on November 20th.

About the Odisha Pharma Summit 2025

• The summit will be held with the aim of encouraging investment, innovation, and job creation in the pharma and medical devices manufacturing sector.
• Industry experts, investors, pharma associations, and skilling partners will participate.
• The Odisha government has set an investment target of ₹5,000 crore in the pharma sector.

Objectives

• Building a pharma and medical devices ecosystem in the state
• Promoting industry-specific workforce skilling
• Policy reforms to attract investment
• Creating a globally competitive manufacturing environment

Status of the Indian Pharma Industry

• India is the third-largest pharmaceutical producer in the world (by volume).
• India's pharmaceutical industry is valued at approximately US$50 billion.
• 70% of the country's pharmaceutical supply is for domestic use and 30% for export.
• India is the world's largest generic drug exporter.
• India's pharmaceutical exports were approximately US$25.4 billion in FY2024.
• The medical devices market is expected to reach US$50 billion by 2025.

Challenges

• Lack of private investment in research and innovation.
• Dependence on China for raw materials (APIs).
• Skill gap and shortage of trained human resources.
• Delays in regulatory approval processes.

Way Forward

• Focus should be placed on building pharma parks and API hubs.
• Encouragement of startups and innovation clusters is essential.
• Strengthen skill development and industry-academia collaboration.
• Odisha can be developed as a pharma hub in eastern India.