Andhra Pradesh

Call to produce quality pharma products at lower price

HYDERABAD: A three-day session of the India-ASEAN business meet organised by the Pharmaceuticals Export Promotion Council began here on Monday with a call by Rajeev Kher, Joint Secretary, Department of Commerce, to produce high quality products at lesser price to meet people’s demands.

He said that thanks to the pharma industry’s achievements and people’s support, the country was in a position to meet the global requirement of quality drugs at affordable prices.

According to a spokesman, India-ASEAN bilateral trade was emerging as one of the fast growing and potential market for the Indian pharma sector, including small and medium enterprises. The market’s business volume was 1,123.13 million US $ in 2006-07. The ASEAN countries were the third largest destination region-wise in pharma exports.

The Indian pharma trade with these countries was worth 195 million US $, with a growth rate of 35 per cent.

K.R.K. Reddy, Additional Secretary, State Department of Commerce, in a presentation explained the infrastructure facilities available in the Genome Valley and Jawaharlal Nehru Pharma City.

Utkarsh Palnitkar of Earnest and Young, Kyaw Lin, Director of Food and Drug Administration, Myanmar, and Saleha Md Ewan, Senior Principal Assistant Director, Malaysia, made presentations on ‘Indian pharma industry’, and ‘drug regulatory procedures’ in their respective countries.

Earlier, Venkat Jasti, chairman of the council, welcoming the gathering – which included 55 delegates from four ASEAN countries of Indonesia, Malaysia, Myanmar and Thailand representing 40 companies and 200 Indian delegates -- pledged support to the overseas buyers in sourcing their requirements from the country.

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