Kewal Handa, MD, Pfizer , focused on making regulatory changes competitive. "In India, regulation is more of control in nature and prohibits growth. Unlike the IT and telecom industry, the Pharma industry is still struggling under the yoke of over-regulation," he said. Pointing out to the fact that a right regulation system could increase productivity by 60 per cent, Handa said that in India there is a vast difference of mind set between the government and the industry which needs to be addressed. "We need an optimum regulatory frame work and the government doesn't have the mind set to put this in place. We need open transparent regulations and not some draconian laws. Regulations cannot be political driven," he said. He brought to light the fact that the government spends only .09% of the GDP on health care whereas the WHO recommends a 7 to 8%.

Handa spoke about the issue of over-regulation in the Indian market. He said that the ideal role of regulations is to facilitate fair competition and shape the structure and conduct of the industry. However, in recent times, the industry is experiencing an environment of over-regulation in India. He said that the perception of industry towards patents and IPR is significantly different from that of government. While the industry sees patents as safeguard of innovations, government simply views them as tool for WTO compliance. He stressed on the need for linking corporate strategy to the regulatory environment which can be done by: