PHARMEXCIL plans business delegation to CIS countries in March 2015

 The Dollar Business   The Pharmaceuticals Export Promotion Council of India (PHARMEXCIL), which recently won the Niryat Bandhu Gold Award among export promotion councils in India, is planning to lead a business delegation to the CIS region i.e. Kazakhstan, Kyrgyzstan and Uzbekistan from March 9 – 18, 2015. The delegation is proposed to these countries as an approved activity under the Market Development Assistance (MDA) activity of the Council, and members with export turnover less than Rs.30 crores in the previous year and with at least one year membership with the council are eligible for MDA assistance.

Approximate values. Source - ITC

The program includes Buyer Seller meetings, meetings with Registration Authority, Ministry of Health and other ministries, and private meetings with local importers in the three countries. India’s pharma exports to the three countries have increased to around Rs.687 crore (about $108 million) in FY2013-14, up about 29% from the previous year. However, it is just 1% of India’s total pharma exports there is a potential to increase it significantly, according to PHARMEXCIL. PHARMEXCIL has also announced that it will hold an International Pharma Business Meet and Exhibition at Ahmedabad during January 9-11, 2015 coinciding with Vibrant Gujarat 2015. The event will include a Reverse Buyer Seller Meet and will be a meeting place for buyers, regulators, and Health Ministry officials.

This article was published on December 30, 2014.