Bengaluru (PB): Pharmaceutical Export Promotion Council of India (Pharmexcil) is organizing an international buyer seller and regulatory meet along with 7th Nutra India summit for herbals and ayurvedic products from March 15 to 17 in Bengaluru. The event is expected to be a big boost for the manufacturers, exporters of traditional medicines and other pharma products in the international markets as it will give them a chance to not only develop network but also deliberate on export and import regulations and improve their presence in the international markets.
Following the success of its earlier International Buyer Seller Meets organized at International Arogya and 4th World Ayurveda Congress, this time Pharmexcil is supporting the Ayush sector in 2012 by partnering “7th Nutra India Summit” organized by CSIR & MMACTIV.
The upcoming summit is regarded as a mega event for the ayurveda, herbal products, nutraceuticals and dietary supplements. Today Indian ayurveda, herbal products, nutraceuticals and dietary supplements are fast catching the attention of the global community and gaining popularity and its potential for taking care of the global health needs are recognized globally, especially from Europe and United States.
India is exporting Herbal and Ayush products worth $293 million (in Rs. 1340 crore) with 2.8 per cent share of total Pharma exports to various regions and among them top five export destinations are LAC, CIS, EU, SAARC, Middle East and ASEAN countries. India is the second largest country in the export of medicinal plants to the world next to China.
As per the information received from the sources, about 30 International Delegates (importers, distributors & Drug Regulatory officials) from 14 countries are expected to participate in the event. In addition to this , many more are expected along with already registered members of the council as they are entitled to have full event participation by virtue of their membership with the council.
This time the council is focusing on encouraging the small and medium companies of Ayush sector. Taking steps in this direction, the council has reduced the registration fees for the SMEs. Along with the buyer seller meet, the council is also taking this event as an opportunity to hold technical sessions with regulatory officials in order to weed out any doubts among the exporters and importers relating to export import regulations and various other legal procedures pertaining to drug trade.
For the buyer seller meet the council has already invited around 30 to 40 potential importers/traders/ Food & Drug Regulators /Associations/ Consultants from the top 20 export destinations dealing with ayurveda, herbal products and dietary supplements/nutraceutical and pharma to participate/interact/trade with the Indian Industry.
For the international Technical and regulatory meet, the council will organize concurrent conferences for two days on various subjects like ‘Strengths of Indian Medicine Systems’, regulatory/registration procedures of various countries and recent changes in the regulations etc., will be discussed and deliberated.
The council is also expected to release a catalogue on this occasion which containing information like details of the participants in the meetings, drug regulatory requirements in various foreign countries, market reports etc.