Exim Bank's latest document on exporting Indian healthcare calls for concrete government initiatives like setting up state-level R and D labs and medicinal plants boards to boost exports of Indian Systems of Medicine (ISM). The document based on an extensive study undertaken by an expert team headed by Dr. Vinayshil Gautam, Professor at IIT Delhi, calls for state-level drug control boards for ISM and integrated efforts on the part of the Central ministries of Finance, Healthcare and External Affairs to promote exports of ISM products and services abroad.
The document also calls for joint ventures with leading international pharmaceutical firms in developing and marketing scientifically authentic ISM formulations in Ayurveda and Siddha streams. Besides, it stresses the need for setting up the required mechanisms for certification, validation and standardisation of such formulations.
The Exim Bank would soon by coming out with a road map for ISM exports, specifying potential overseas markets for such exports, according to S K Venketa Subramanian, Managing Director, Exim Bank.