Taking advantage of the visit of the Romanian health minister and the county's chief of food and drug administration to India, the Pharmaceutical Export Promotion Council of India (Pharmexcil) is planning to have a high level interactive meeting with the stakeholders in Mumbai on January 10. The meeting will emphasis on understanding the dynamics of the current market condition for expanding India’s export to Romania.
This initiative comes following the keen interest shown by the Indian embassy in Romania, which has been insisting on greater interaction between the governments to spur business growth based on the feelers from the locals there. It comes to light that more and more Romanian local players and decision makers are keen on exploring and strengthening business relation with India especially in the pharma sector.
It is important to note that, currently India’s export to Romania is somewhere close to Rs.300 crore with huge scope for exponential growth in the future as well. In fact, Romania ranks amongst the 15 top countries within the European Union to which India exports.
According to Dr P V Appaji, director general of Pharmexcil, Romania is located in such a geographical juncture that it enjoys access to some important countries in Europe. Thus expanding business with Romania, which is strategically placed will also open up window of opportunities for exporters eyeing to expand in other EU countries as well.
“The commerce ministry is keen to push for initiatives that will further push the exporting strength of the country. We are looking forward to have a very fruitful interaction with the Romanian counterparts to explore different opportunities that the country may provide and how it can be used to usher the interest of the Indian domestic players,” he added.
All said and done, he stressed that the proposed meeting which was decided on the a very short notice will be held on January 10 in Mumbai followed by the stakeholders response to it. Dr Appaji added, “As of now we have got positive feedback on this proposal, so we urge all the interested companies planning to expand their stake in Romania and EU to come forward and express their intention with the Pharmexcil at the earliest, so that we can do the needful. It is in fact a very rare incidence that both the health minster and the FDA chief are jointly visiting the country so we think that this opportunity should be utilised to its best.”