Aimed at providing hand-holding opportunity to small and medium enterprises (SMEs) in the backdrop of Goods and Services Tax (GST), the 8th edition of Pharmac India announced on Thursday.
The expo to be held between November 7-9 in Ahmedabad, will chart a new path for the pharma industry at a time when three dedicated clusters for Pharmaceutical Formulation, API — bulk drugs and Medical Device — are being planned in Gujarat.
International delegations from countries like South-East Asian Countries, African countries, Middle-East countries will participate at the expo, where nearly 200 exhibitors will showcase their strengths. The exhibitors expect over 6,000 business visitors. Gujarat accounts for 33 per cent of the country’s pharma market, while it is expected grow and touch 40 per cent by 2020 as the benefits of GST trickle in and a skewed tax structure is ruled out.
“With the introduction of GST from July onwards, our competitiveness has received a major boost. We are looking forward to more business coming back from the states that so far enjoyed tax holidays,” said Viranchi Shah, Chairman, Indian Drug Manufacturers Association-Gujarat State Board.