The Trade Minister of Sri Lanka will soon visit India to encourage Indian pharmaceutical companies to establish pharma units in Special Economic Zone (SEZ) in Sri Lanka, so that it can strengthen the pharma trade between the two countries.

Dr P V Appaji, director general of Pharmaceuticals Export Promotion Council of India (Pharmexcil) says, “The Trade Minister is expected to visit India in 3 – 4 days, and we are planning to organise a meeting with the industry, may be in Delhi or Mumbai. The government of Sri Lanka is keen to establish an SEZ for pharma sector and has proposed to offer special incentives for establishing pharma units at SEZ in Sri Lanka.”

Pharmexcil has urged its members to explore the possibilities of establishing manufacturing facilities of API and formulations in Sri Lanka and join the subject delegation making a visit to Sri Lanka.

“We had issued a circular for our members who wanted to set up a unit or interested in joint venture but only 10 to 15 members have shown their interest. The Sri Lankan government is interested in establishing SEZ for pharma sector. After the visit of the Trade Minister of Sri Lanka, they want Indian delegates to visit Sri Lanka so that they can show the available industrial areas for SEZ,” said Appaji.

Sri Lanka is an important trade partner and India exported pharmaceuticals worth Rs. 1342 crore (USD 205 mn) during the year 2015-16. In this context, our mission in Sri Lanka is playing active role and requested the Council to mount a delegation to Sri Lanka immediately during June/July 2016, informed Appaji

The Pharmexcil was set up by the ministry of commerce and industry, government of India, with the task to promote the Indian pharmaceuticals industry around the world. Since its inception in 2004, the organisation has taken several steps to boost exports in the pharma sector. Under the central government scheme Market Access Initiative (MAI), the Council takes delegations periodically to different countries to explore the markets there.