The Central Government has sanctioned Rs 70 lakh to The Basic Chemicals, Pharmaceuticals & Cosmetics Export Promotion Council (Chemexcil) for conducting the initial market study on the export potential of anti-retroviral drugs in the African markets. The study is part of the Market Access Initiative proposal that has been forwarded by the council few months ago. The government is also actively considering the proposals for similar studies on the export potential of antibiotics and generic drugs to select foreign markets.
According to sources, the study is to be complete within seven to eight months. Chemexcil has already started the initial correspondence with the select embassies and scouting for appropriate consultants who can initiate the study on the African markets. The council had proposed a package of Rs 3 crore under the MAI scheme for the whole programme which begins with market study and extends to initiating promotion campaigns, publicity campaign, participation in international fairs, seminars, buyer-seller meets etc.
As per the Exim Policy, the government can even share the burden of registration charges for product registration abroad for pharmaceuticals, bio-technology and agro chemicals as part of MAI scheme. The scheme is of three-year duration and the market study phase will include the development of a proper database on the antiretroviral market in African region.
Chemexcil sources said that the rest of the amount would also be sanctioned once the first phase is completed in a successful manner.