In Ebola-hit West Africa, Indian pharma to showcase its wares
Even as the Ebola virus disease outbreak in West Africa is causing worldwide concern, the Indian pharmaceutical industry is set to expand its footprint in the region with its first ever exhibition outside India.
Lagos: Even as the Ebola virus disease outbreak in West Africa is causing worldwide concern, the Indian pharmaceutical industry is set to expand its footprint in the region with its first ever exhibition outside India.
The Pharmaceutical Export Council of India (Pharmexcil) will host the first ever exhibition outside India, dubbed IPHEX Africa 2014, Nov 24-26 this year at the Lagos Palace Hotel in the West African nation of Nigeria, a statement by Pharmexcil has said.
The choice of Nigeria is based on the growing pharmaceutical trade with India over the last few years. This year Nigeria has become the largest export destination of India's pharmaceutical exports with a growth rate of 12.72 percent. The total exports from India to Nigeria increased to $384.30 million by the end of September this year, up from $340.92 million last year.
A breakdown of exports from India shows that bulk drugs that amounted to $49.98 million last year, amounted to $43.17 million as of September this year. For formulations, it rose to $339.38 million at the end of September this year against $296.9 in the same period last year.
"Further, presence in Nigeria will be advantageous for members to explore opportunities in other African countries. Members are already aware of Pharmexcil's initiative to open a warehouse in Nigeria with support of members and ministry of commerce, government of India," the statement added.
Pharmexcil said its last two exhibitions in Mumbai, India, have been highly successful and "have been able to position Brand India Pharma as responsible healthcare", adding that "embassies and missions of India abroad are taking all efforts to promote IPHEX and suggest good business prospects".
It said the exhibition would be exclusive for Indian exhibitors who would have an opportunity to generate immense business opportunities in Nigeria and other African nations.
Pharmexcil will be inviting hosted buyers, importers, distributors and agents from other African countries in Nigeria to participate in the buyer-seller meet being exclusively organised for Indian companies participating in the Pharmexcil pavilion.
It will also use the exhibition to organise a networking dinner with regulatory officials and all pharmaceutical-related stakeholders. Regulators from Nigeria and other African countries will be invited. There will also be a three-hour seminar to focus on the Indian pharmaceutical industry and thereby create a platform for business interactions.