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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Indian pharma delegation arriving tomorrow

Indian pharma delegation arriving tomorrow

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Delegation led by Sharma’s powerful Pharmexcil

‘Prompt action shows India’s sincerity’ says Rishad

Pharmexcil, India’s powerful promoter of $10 Bn pharmaceutical exports, will lead the special Indian Pharma delegation arriving in Colombo tomorrow 15 August’s morning hours. The Pharmexcil team, the largest of its kind to arrive in Sri Lanka in Sri Lanka’s trade history, is in town as a result of the directive of Anand Sharma, Indian Minister of Industry, Commerce and Textiles. During the recent high level Indian trade delegation to Colombo led by Minister Sharma, India announced that a special Indian pharmaceutical delegation will be arriving on August 14/15 in Colombo to set up the proposed Pharmaceutical Manufacturing Hub in Sri Lanka.

“Our government warmly welcomes this delegation and is ready to provide all the support needed. The arrival of pharma hub delegation from India in such a short period shows Minister Sharma’s sincerity to implement the proposed pharma hub in Sri Lanka and to increase bilateral trade levels” welcomed an upbeat Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka on 14 August. In addition to this delegation, another team of reps from 20 Indian pharma firms are also arriving to take part in the forthcoming Arogya 2012 International Healthcare Exhibition to be held from 17 to 19 August at BMICH. The Indian Pharmexcil led delegation has strategically timed their visit to co-incide with Arogya 2012 at BMICH, showing their keenness on implementation of the pharma hub without delay.

It is also reliably understood that according to Dr P V Appaji that this initiative, “for the time being is just specific and focused only on Sri Lanka as per Union Minister Sharma’s directive.” Among the Indian pharma industry reps are Ranjit Puranik, (Executive Director, ShreeDhootapapeshwar Ltd- manufacturing and marketing Ayurvedic formulations for 125 years), Dr. P P Lal Krishna (Chief Executive Officer of the $ 800 Mn revenue Ramky Pharma City (India) Ltd-the diversified firm which also has India’s largest environmental and waste management company under it), Mr Sridhar (Stedman Pharma Pvt. Ltd), Anil Toliya (Vidhi Bulk Drugs / Toliya Group) and reps from such firms as J B Chemicals & Pharmaceuticals Ltd, ACG Worldwide Group, and NATCO Pharma Ltd. Both Sri Lanka and India have jointly appointed a high level Bilateral Task Force to implement the Indian proposals to increase bilateral trade to $10 Bn by 2015 from current levels of $ 5 Bn. Among the proposals are to set up a Pharmaceutical Manufacturing Hub in Sri Lanka. The Pharmexcil led delegation arriving tomorrow is tasked by Minister Sharma on setting up of the Pharmaceutical Manufacturing Hub in Sri Lanka with the participation of Indian pharmaceutical firms.

Pharmexcil (Pharmaceutical Export Promotion Council of India), is the umbrella pharma export promoter functioning under Minister Sharma’s Ministry and has set an ambitious pharma exports target to double Indian pharma exports in the next two years to $25 billion (at end of 2013-14). Pharmexcil’s Director General Dr. P V Appaji will lead tomorrow’s pharma hub delegation assisted by Raghuveer Kini (Executive Director, Pharmexcil). Interestingly, among the Indian pharma firms in the delegation are top indigenous firms with a long history on Indian soil.

http://www.nation.lk/edition/biz-news/item/9306-indian-pharma-delegation-arriving-tomorrow.html

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