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Pharmexcil sees Oceania a potential region for Indian pharmaceutical exports
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A Raju, Hyderabad
August 30 , 2021
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The Pharmaceuticals Export Promotion Council of India (Pharmexcil) sees Oceania region a great potential for the Indian pharma manufacturers for exporting high quality low cost generic medical products. Oceania region includes countries like Australia, New Zealand, Papua New Guinea, Fiji, Tonga and others.
In view of this, the council authorities are urging the member pharma companies to take part in the upcoming “Indo-Oceania” virtual connect pharma buyers-sellers meet to be held from September 14-17, 2021 and utilize the opportunity for expanding their business network in the region.
According to Uday Bhaskar, director general of Pharmexcil, Oceania region is one of the fastest emerging markets and it is high time that the Indian pharma exporters do not ignore this region and explore the available business opportunities.
“Oceania region which includes countries like Australia, New Zealand, Papua New Guinea, Fiji, Tonga and others is having very good potential for the Indian generic medical products. In fact, India has exported pharmaceutical and related products worth $428.29 million during the first quarter of Financial Year (FY) 2021,” informed the Pharmexcil DG, citing great export potential for the Indian firms into the Oceania region.
It is learnt that the Oceania region has contributed to the pharmaceutical export growth from India over an extent of 25 per cent and if proper focus is given by the Indian pharma industry leaders, it is likely that this region will contribute to further boost in the Indian pharmaceutical exports crossing more than 30-40 per cent growth rate.
“During the last fiscal the Indian generics witnessed remarkable growth from the Oceania markets. We are expecting this trend will further continue and in fact will further improve giving a big boost to the Indian exports,” observed the DG.
With an aim to further improve the business to business network with the firms, associations and local marketers from the Oceania region, the Pharmexcil has decided to organize ‘Indo-Oceania Connect’ virtual pharma buyers-sellers meeting.
The main objective of organizing the Indo-Oceania initiative is to provide a unique trade platform for Indian exporters and ensure the continuity of interactions with the pharma stakeholders of Oceania region. Furthermore, the growing demand for Indian generics in these markets is also remarkably very high. In view of this Pharmexcil has decided to organize a 4 day virtual meeting which is expected to witness participation of business delegates from Australia, New Zealand, Papua New Guinea, Fiji, Tonga and other adjoining nations from the Oceania region, informed Uday Bhaskar.
Interested members can utilize the opportunity to connect with quality buyers from Oceania region and are requested to confirm their participation latest by 1st September, 2021.
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