Updated on 16 August 2012
India helps Sri Lanka to setup pharma hub
Bangalore: India is going to help Sri Lanka in setting up a proposed pharma hub, as part of its bilateral relationship with the island nation. Dr P V Appaji, director general, Pharmaceutical Export Promotion Council of India (Pharmexcil), led the Indian pharmaceutical delegation, which was on two day visit to Colombo, as a result of the directive by Mr Anand Sharma, Indian minister of industry, commerce and textiles, to set up the proposed pharmaceutical manufacturing hub in Sri Lanka.
Mr Rishad Bathiudeen, minister of industry and commerce, Sri Lanka, while welcoming the Indian delegation, said that, "Our government warmly welcomes the Indian pharmaceutical delegation and is ready to provide all the support needed in setting up proposed pharma hub in Sri Lanka and to increase bilateral trade levels."
In addition to this delegation, another team of representatives from 20 Indian pharma firms are taking part in the forthcoming Arogya 2012 International Healthcare Exhibition, to be held from August 17-19. The Indian delegation has strategically timed their visit to co-incide with Arogya 2012, showing their keenness on implementation of the pharma hub without delay. Pharmexcil is the umbrella pharma export promoter functioning under minister Sharma's and has set an ambitious pharma exports target to double Indian pharma exports in the next two years to $25 billion (at end of 2013-14).
The Indian delegation comprised of Mr Ranjit Puranik (executive director, ShreeDhootapapeshwar, manufacturing and marketing Ayurvedic formulations for 125 years) and Dr P P Lal Krishna (CEO of the $800 million Ramky Pharma City, which also has India's largest environmental and waste management company). Mr Sridhar (Stedman Pharma), Mr Anil Toliya (Vidhi Bulk Drugs/Toliya Group) and representatives from J B Chemicals & Pharmaceuticals ACG Worldwide Group, and NATCO Pharma were also part of the India delegation.
Both Sri Lanka and India have jointly appointed a high level bilateral task force to implement the Indian proposals in order to increase bilateral trade to $10 billion by 2015 from current levels of $5 billion.