The Indian Drug Manufacturers Association (IDMA) will soon set up a 'sub-contract exchange' for the small scale drug manufacturers in the country, to help them source contract business from global pharmaceutical companies.

The 'subcontract exchange' is conceived as an electronic platform for the SSIs to get the attention of global pharma companies and to negotiate directly for orders. Initially conceived as a grouping of web pages within the IDMA website, the exchange will display from time to time the spare capacity available with individual companies, their strength in different areas of manufacturing, details on the level of modernization, quality manufacturing facilities etc. A recent executive committee meeting of IDMA decided to set up the exchange.

It is likely to take off within two to three months, S V Veeramani, chairman of SSI Subcommittee of IDMA told Pharmabiz.

"It is part of our endeavour to help the SSI manufacturers in the country to survive in the post 2005 period of global competition. IDMA website has good visibility and many manufacturers from different parts of the world would be looking forward to India for their production requirements. The exchange, a display board of Indian SSIs, would help them contact the client directly. IDMA's role will be that of a facilitator in this buyer-seller interaction and we are in the process of working out the modalities of this subcontract exchange," said Veeramani.

He said IDMA is in the process of conducting a series of marketing and Schedule M seminars for SSIs in different parts of the country. IDMA has already conducted Schedule M seminars in Mumbai and Chennai. The next seminar on Schedule M will be held on 4th September at Calcutta and at Delhi on 15 of October 2004.

With a view to help the SSIs survive and better market their products in the post 2005 scenario, now IDMA is in the process of conducting a survey on current marketing strategies and manufacturing details among the 400 odd SSI members of IDMA. Depending on the outcome and feedback of the survey, IDMA will decide the theme and details of the proposed marketing seminars, open for all SSIs in the country. The event will be held in major drug manufacturing centers in India during the November-December period, said Veeramani.