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Pharmexcil organises 3-day INDIA-ASEAN Business Meet

The Pharmaceutical Export Council (Pharmexil), with the active support of Ministry of Commerce and Industry, Government of India organised a three-day INDIA-ASEAN Business Meet in Hyderabad starting February 11. About 55 delegates representing 40 companies and trade, and officials from the Food and Drug Authorities (FDA) of Thailand, Malaysia, Indonesia and Myanmar, among others, participated in this event. More than 200 delegates from the Indian drugs and pharma industry also participated in the meet.

The meeting was formally inaugurated by the Joint Secretary, Department of Commerce, Rajeev Kher. He stressed on the need for further improving the quality of drugs from India, while keeping the prices competitive so that Indian drug makers could get a bigger share of the global market. The pharma sector was also exhorted to tap the Asean market.

Chairman of Pharmexil, Venkat Jasti, extended the support of the apex trade body in helping buyers from these four nations to source their requirements from India.

A series of sessions on issues of pharma trade, regulatory aspects, and one-on-one meetings were held between representatives from these countries. The event had a lot of significance as India-Asean bilateral trade holds great potential for the Indian pharma sector, including small and medium enterprises. During financial year 2006-07, volume of business was around $1,123.13 million with the share of pharma sector being around 19 per cent. The ASEAN countries Thailand, Malaysia, Indonesia and Myanmar, are the third largest destination region-wise in pharma exports and pharma trade amounting to $195 million with a growth rate of 35 per cent.

Senior Officials from Government of India, Ministry of Commerce & Industry, Ministry of Chemicals & Fertilizers, NPPA, Government of Andhra Pradesh and other important dignitaries attended the meet.

The meet covered various business and technical sessions. Business sessions included One-to-One Buyer-Seller Meetings and Plant visits, etc. Technical sessions included presentations on pharma markets and their registration procedures, Status and Export Opportunities-Indian perspective, session on Drugs and Formulations etc. Eminent speakers and industrialists participated in the sessions.