India, Uzbekistan Summit To Sort Out Hurdles Affecting Exports From Indian Pharma Sector.

Uzbekistan, which holds vast potential for Indian pharmaceutical companies, and India will discuss the bottlenecks affecting the export and import fronts and facilitate the joint ventures in the sector, at a bilateral summit slated in May.

In view of the growing potential for Indian firms in drugs and medical devices, the Department of Pharmaceuticals (DoP) has already launched an exercise to gather inputs about the issues, problems faced by the pharma companies in the export front.

Besides, the industry associations have been asked to forward the names of interested Indian companies for setting up joint ventures with Uzbek firms. The department will facilitate the ventures, with the help of other ministries, sources said.

The bilateral issues, concerning the pharma and health sectors, will be among the key areas of deliberations at the forthcoming 9th session of Indo-Uzbek Inter Government Commission (IUIGC) on trade, economic, scientific and technological cooperation to be held in Tashkent on May 4 and 5, sources said.

Department sources said the government had been taking steps to promote pharma exports to Uzbekistan for some time now. Joint Secretary Devendra Chaudhry had led a delegation comprising representatives of 22 companies a couple of years back. With the delegation briefing about the quality of Indian medicines and taking part in buyer-seller meet, a platform had been laid for stepping up collaboration in the sector.

A good number of Indian companies are already operating in the Republic of Uzbekistan, besides a considerable quantum in export of pharmaceutical products.  The forthcoming summit will also take stock of the progress of the initiatives launched and further identify the issues, if any, with a view to strengthen the trade relations, sources said.

Source : pharmabiz.com