Consultative Group On Pharma Exports To Meet on Sep 30.

Hyderabad, Sep 27 (PTI) The Export Consultative Group, constituted by Union Ministry of Commerce and Industry, will have its first meeting on September 30 to chalk out strategies and action plan to boost Indian pharma exports from the current USD 10.3 billion to USD 25 billion by 2014.

According to V Appaji, Executive Director, Pharmexcil (Pharmaceuticals Export Promotion Council), a body under Ministry of Commerce and Industry, Union Commerce Minister Anand Sharma is likely to chair the meeting."We are going to have two panel discussions during the India-LAC Pharma Business meet and the outcome of these discussions will be submitted to the Export Consultative Group, which will hold its first meeting here on Friday," Appaji said.Currently, there are over 150 US FDA-approved plants in India which are being operated by both Indian and multinational drugmakers.Of the current USD 10.3 billion pharma exports from India, over 23-25 per cent is shipped to the US, the world's biggest market.

Maharashtra leads the exports with 38 per cent share followed by Andhra Pradesh (23%), Appaji said.Of the total exports, bulk drugs make up 42 per cent while formulations, herbals and ayurveda account for 56 per cent and 2 per cent respectively, Appaji added.Meanwhile, the city will host the second edition of business meet between the Latin American and Indian pharma company representatives from tomorrow.The three-day meet is aimed at increasing the Indian pharma exports to LAC (Latin American countries) from the current 7.5 per cent of the total figure, Appaji said.

Source : ibnlive.in.com