Indian pharma sector is key to the growth strategy of Siemens. The company has been investing heavily in the development of smart, customer-focussed local innovations using automation and digital technologies. Eckard Eberle, CEO, Business Unit Process Automation, Siemens explains their strategy to Raelene Kambli
How does Siemens operate in India’s pharma space?
Siemens has identified pharma as a key growth vertical. It has a dedicated team to interface with customers in this sector. We engage deeply with customers to identify their challenges and needs, and then develop smart, customer-focussed local innovations. The solutions are based on feedback from the process industry and CXOs from within the sector and are conceptualised and validated to solve many of the challenges faced by the industry. Our strength is our ability to combine automation knowledge, digitalisation and domain know-how, for the process industries - whether it is pharma, cement, beer brewing or chemicals.
What growth prospects do you see in the Indian pharma market?
The Indian pharma market is expected to grow at 15 per cent market per annum until 2020 from today's $30 billion. The Indian pharma industry has a 33 per cent cost productivity advantage compared to the US market and India has over 500 US FDA-approved manufacturing sites. This makes India a very attractive proposition for exports and India stands today as the largest exporter of generic APIs in the world.
The prospects are bright.
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