The Pharmaceutical Export Promotion Council of India (Pharmexcil), is planning to send a business delegation to three CIS countries viz., Armenia, Georgia and Uzbekistan from January 27 to February 6. The delegation consisting of members of pharmaceutical, biotechnology and other Indian system of medicine manufacturers and exporters are expected to tour Armenia, Georgia and Uzbekistan for about 10 days.
CIS is a high potential and growing market for India. Since the breakup of USSR in 1990s, India has been improving its trade ties with the CIS region particularly in the pharmaceutical segment. “As CIS region is a very important and high potential export market for Indian pharmaceutical products and we are sending the business delegation to these countries initially as an approved activity under Marketing Development Assistance (MDA) activity of the council. The main aim of this tour is to explore more areas for our pharma exports. The delegates will take part in buyer seller meets with the traders and local manufacturers and also meet with registration and regulatory authorities in the CIS region,” informed, Raghuveer kini, executive director, Pharmexcil.
According to statistics from DGCIS, among the 12 CIS courtiers, Armenia, Georgia and Uzbekistan have been emerging as most potential export markets for India after Russia. Particularly Pharmaceutical and other medical exports to Uzbekistan have been gradually increasing from Rs.155.55 crores in 2010-11 to Rs.191.72 crores in 2011-12 to Rs.219.81 crores during 2012-13. In just a span of three years Indian exports to Uzbekistan has increased to Rs.64.26 crores. Similarly Pharma exports to Georgia have also increased from Rs.25.86 crores in 2010-11 to Rs.38.98 crores during 2012-13. Other most important country which has high potential markets for Indian pharmaceutical exports is Armenia. India has almost doubled its Pharma exports Rs.2.70 crores in 2010-11 to Rs.5.21 crores in 2012-13.
In view of the high export potential in the CIS region, the council has mounted a proposal to send a business delegation and has invited application from all interested members to participate and build their business by exploring export opportunities in the region.
According to information from the council, all members whose export turnover during previous year are less than Rs.30.00 crores and are having one year membership with the council are eligible for MDA scheme. For all eligible members the council is expected to provide 100 per cent excursion airfare reimbursement for economy class up to Rs.70,000. Interested members willing to take part in the delegation need to send in their details to the council by January 10, 2014.