ArmInfo. From November 10 to 13, an exhibition-conference "India-Armenia: Pharmaceutical Business Forum" will be held in Yerevan. The organizer of the exhibition and conference is the Embassy of India in Armenia and the Pharmaceutical Export Promotion Council established by the Ministry of Trade and Industry of India (PHARMEXCIL-Pharmaceuticals Export Promotion Council). ArmInfo was informed about this in the diplomatic mission of India in Armenia.
At the exhibition and conference, prospects for establishing business relations with the pharmaceutical sector of India will be considered, the achievements of the industry in this country will be presented, and issues of its legislative regulation will be considered. Within the framework of the conference, B2B meetings will be held between 23 leading Indian and Armenian pharmaceutical companies. Ambassador Extraordinary and Plenipotentiary of India to Armenia Kishan Dan Dewal will deliver a speech at the opening ceremony of the exhibition. The pharmaceutical industry in India will be represented by Abhay Sinha, Senior Director of PHARMEXCIL.
India is one of the largest generic drug suppliers in the world, with approximately 20% of global supplies. About 3 thousand pharmaceutical companies operate in the country. The cost of medicines manufactured in India is more than three times lower than its American counterparts and two times lower than in Europe.
India is a manufacturer of over 500 different active pharmaceutical ingredients (APIs). One of India's strengths is the export of generic drugs. In total, the export of pharmaceutical products in the 2017-2018 financial year amounted to $ 17.2 billion. It is planned that by 2020 this figure will be brought to $ 55 billion.
According to the embassy, the first visit of the representatives of the PHARMEXCIL Council to Armenia took place in March 2011. In the framework of the conference organized at that time, many contracts were concluded between pharmaceutical, pharmacy companies and exporters of the two countries, which led to an increase in the volume of trade in this area between the two countries.