Pharma conference highlights India's export potential

Mumbai, Mar 6 (UNI) The Pharmaceuticals Export Promotion Council (PHARMEXCIL)-hosted three-day India and CIS International Pharma Conference commenced here today to showcase the huge export potential of the Indian Pharmaceutical Industry.

The conference has attracted participation from over 400 delegates from India and the CIS countries.

The Government of India has identified twelve CIS countries as thrust areas for exports and these include Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan and the Ukraine.

Total export to these CIS countries in 2004-05 was Rs 12583.40 million, showing a growth rate of 29 per cent over the previous year.

This export represented 8 percent of India's total pharma exports of USD 3.7 billion (around Rs 17,000 crore) in 2004-2005.

While delivering his inaugural address, Maharashtra Minister of State for Food and Drugs Baba Siddique said, ''Currently Indian pharma ranks fourth worldwide in volume and thirteenth in value. Due to our superior manpower and advanced technology, the cost of exports are cheaper. Indian Pharma exports is expected to reach USD 12 billion by 2010, making it a net foreign exchange earner.'' UNI LS MAZ RR HT2117