The Pharmaceutical Export Promotion Council (Pharmexcil) is planning a trade delegation to the Latin American Countries (LAC) of Trinidad & Tobago, Dominica and Jamaica from 3rd week of March 2006 for a period of 10-12 days.
Organised with the active support of Indian embassies in these countries, Pharmexcil will organise buyer-seller meetings, meetings with drug regulatory authorities, visits to plants, etc.
India's drug exports to Trinidad were valued at Rs 1637.55 lakh during April 2004-March 2005, in comparison to the Rs 1230.69 lakh during the corresponding period in the previous year. Exports to Dominica were to the tune of Rs 89.73 lakh for the April 2004-March 2005 period in comparison to the Rs 168.15 lakh during the corresponding previous year period. Drug exports to Jamaica valued about Rs.1671.14 lakh during April 2004-March 2005, a marginal increase from the Rs 664.98 lakh during the corresponding previous year period.
According to Pharmexcil, India's exports to these countries have steadily been growing and several facilitating measures including the setting up of a credit line of Exim Bank of India to the tune of USD 8 million etc., have been initiated for the growth of Indian exports. Indian pharmaceuticals are noted in this market for their efficacy, quality and affordable prices and Indian exports in this sector have been recording robust growth in the recent past.
MDA is available to all the exporters, whose exports during previous year do not exceed more than Rs 10 crores and who has a 12-month membership with the Pharmexcil/Chemexcil, to the extent of 90% of economy air fare charges to SSI units and 75% to non-SSI units (maximum Rs 90,000) and 90% or 75% of cost of buyer-seller-meetings.