The Pharmaceutical Export Promotion Council of India (Pharmexcil) is focussing on improving Indian pharma exports to Myanmar. As part of this initiative, the council is planning to organise expo-cum-BSM (buyer-seller-meet) in Yangon from 19-21st February 2015.
Myanmar, the eastern neighbour of India (also called as Burma earlier) has been long neglected and not much focus was given towards this country due to political uncertainty and military dictatorship. But during the past few years now, things are fast changing with much improved business environment prevailing in the country.
Particularly, the demand for healthcare products in the country is very high due to aging population. As India has already proven its might in high quality generics all over the world, Myanmar is now looking at India for its medicinal and healthcare imports.
Since the year 2011, Indian bulk drugs, formulations, herbals and Ayush products are being increasingly exported to Myanmar. India recorded a growth of 27 per cent in its formulations exports from Rs.375.46 crore, in the year 2011-12 to Rs.831 crore in the year 2013-14. Similarly in herbals, India recorded a growth of 71 per cent and improved its exports from Rs.0.16 crore in the year 2011-12 to Rs.0.9 crore in the year 2013-14.
On the other hand, India’s exports to Myanmar have recorded a negative growth in bulk drugs and Ayush products. Exports of bulk drugs from India to Myanmar have dipped to Rs.5.26 crore in the year 2013-14 fromRs.9.29 crore in the year 2011-12.
As there is a huge demand for generic medicines in Myanmar, India wants to grab the opportunity to improve its pharmaceutical export business to the country. At the same time the council is looking to establish a long term partnership between Indian pharma entrepreneurs and business community in Myanmar. As part of this, Pharmexcil with the support of department of commerce, government of India is planning to organise an expo-cm-BSM at Hotel Park Royal in Yangon from 19-21st February.
The main aim of this expo is to promote Brand India Pharma Campaign and to attract more investments in pharma sector as well as to improve Indian generic exports to this high potential market. “Our aim with this expo-cum BSM is to create a huge opportunity to interact with local buyers/distributors and large number of doctors from various parts of Myanmar for creating awareness about India generics. Further, Ministry of Commerce has directed Council to include related segments like pharma consultants, pharma education, pharma engineering, medical devices, drug testing labs, pharma institutions etc. in order to give the effort a composite outlook and create opportunities strategically. Using such platforms Indian pharma companies can build much better business links as well as share views and give suggestions to resolve in there are any issues relating exports or imports,” informed Dr P V Appaji, Director General of Pharmexcil.