Union Minister Jitin Prasada inaugurated the 3-day International Pharma and Healthcare Exhibition (IPHEX 2024) at Greater Noida, New Delhi and emphasized on India's leadership in the global healthcare and pharmaceutical sectors. The IPHEX 2024 event, organized by the Pharma Export Promotion Council of India (PHARMEXIL) in collaboration with the Ministry of Commerce and Industry,

Minister Jitin Prasada highlighted India’s leveraging on strength of producing affordable medicines and significant contribution to global health already known as the 'pharmacy of the world and stressed the Indian pharmaceutical sector to aim for becoming the "healthcare custodian of the world” and praised Indian pharmaceutical sector for its significant contribution to the country's GDP. From FY14 to FY24, exports surged from USD 14.9 billion to USD 27.84 billion, reflecting over 90 percent growth. Minister Prasada also underlined the importance of innovation, quality, and international collaboration.

Sunil Barthwal, Secretary, Union Ministry of Commerce & Industry, advised pharma sector leaders to create a health care sector value chain on the lines of mobility chain created by the automobile   industry and lead exports of pharma products in a big way. 

S.V. Veeramani, Chairman, PHARMEXCIL said that, “the 3 day expo offered the domestic industry majors from India and all across the world, a great platform to connect and create newer business opportunities.”
 
K. Raja Bhanu, Director General of PHARMEXCIL, told that “IPHEX has garnered international recognition and fostered collaboration within the pharmaceutical community worldwide. India’s pharma exports during the year 2023-24 stood at USD 27.84 Billion with more than 30 percent exports to the US. About 70 % of World Health Organization’s (WHO) vaccines under essential immunization schemed served from India.”