Is the current workforce of the Indian pharma Industry “enough & skilled” to make it a $130 Billion industry by 2030

The Indian pharmaceutical industry has been experiencing significant growth in recent years and is poised to continue to do so in the future. According to the Indian Pharmaceutical Alliance (IPA), the industry is projected to reach a valuation of $130 billion by 2030.

However, whether the current workforce of the Indian pharma industry is sufficient to achieve this goal is difficult to say. The growth of the industry will depend on a number of factors, including but not limited to, research and development, innovation, market demand, regulatory environment, and access to funding.

That being said, it is likely that the Indian pharma industry will need to expand its workforce to meet the demands of this projected growth. The industry will require skilled professionals, including scientists, engineers, regulatory experts, and others, to develop new drugs, improve existing products, and ensure regulatory compliance.

In summary, while the current workforce of the Indian pharma industry is an important factor in the growth of the industry, there are many other factors at play. It is possible that the industry will need to expand its "Skilled Workforce" to achieve the projected valuation of $130 billion by 2030. 

But there is a pertinent question which is under mentioned:

How can the Indian pharma industry make its workforce skilled?

The pharma industry can take various measures to make its workforce skilled. Here are some ways the pharma industry can achieve this:

Training and Development Programs: The industry can organize training programs to develop the skills of its employees. Such programs can focus on various areas like manufacturing, quality control, research and development, regulatory affairs, and marketing. Training can be conducted in-house or outsourced to external training providers like PharmaState Academy & others which specifically work in the skilling domain of pharma.

Skill Enhancement Courses: The industry can offer courses that help employees acquire new skills, and enhance their existing skills. This can be in the form of diploma or degree courses, online learning programs, or short-term courses. The courses can be designed in consultation with industry experts, educational institutions, or professional bodies.

On-the-Job Training: The industry can provide on-the-job training to employees, which involves working with experienced professionals who can teach them the required skills. This can be a cost-effective way of training as it allows employees to learn while they work.

Collaboration with Educational Institutions: The industry can collaborate with educational institutions to develop curriculums that prepare students for a career in the pharma industry. The industry can also provide guest lectures and internships, which can help students develop industry-specific skills.

Career Development Programs: The industry can provide career development programs that help employees progress in their careers. This can include mentoring, coaching, and leadership development programs. Such programs can help employees acquire new skills, take on new responsibilities, and progress in their careers.

In conclusion, the pharma industry can make its workforce skilled by providing training and development programs, skill enhancement courses, on-the-job training, collaborating with educational institutions, and career development programs. These measures will help employees acquire the necessary skills to meet the challenges of the industry and contribute to its growth.

By: Dr. Satish Gupta

Disclaimer: The opinions expressed in the publication are those of the authors. They do not purport to reflect the opinions or views of the PharmaState Academy.