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The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has invited Indian companies to be part of the Pharmexcil’s business delegation to CIS region in the month of March 2023.
It has to be noted that exports worth US dollar 484.84 million were accounted for in April to December FY 2023 as compared to US dollar 511.43 million in April to December FY 2022 in countries like Russia, Azerbaijan and Georgia in the CIS region.
Pharmexcil with the support of the ministry of commerce & industry, Government of India is organizing business delegation to CIS region - Russia, Azerbaijan and Georgia between March 12 and March 22, 2023.
In order to help make participation much easier, MAI assistance is available for the eligible companies.
Market access initiatives (MAI) scheme is based on the market – product/services approach and the eligible agencies should submit a comprehensive project for market access on the basis of scientific analysis for gaining market access under the various provisions of the scheme.
“As part of the business delegation, buyer seller meets will be organised at each country along with meetings with the regulatory officials and prominent trade associations. The details of the BSM schedule and other meetings will be shared soon,” informed Udaya Bhaskar, director general, Pharmexcil.
Pharmexcil’s business delegation to CIS region is significant considering the nature of the CIS region with the focus area for pharmaceutical exports from India and the potential for generics and APIs, especially with the emerging business opportunities in Russia and other markets. India exported nearly USD 591 million worth of pharmaceutical goods to Russia in the last fiscal with a growth of 6.95 per cent compared to a year before, according to Pharmexcil.
The Commonwealth of Independent States (CIS) was founded in 1991 after the dissolution of the Soviet Union. At present the CIS includes Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan and Ukraine.
As per the MAI Assistance Scheme, member companies whose export turnover during previous year are less than Rs. 50 crore and are having minimum of one year (12 calendar months) membership with the council are eligible for MAI assistance subject to the other guidelines of MAI scheme.
“For any further clarifications, members may contact us at romumbai@pharmexcil.com with a copy to regulatory@pharmexcil.com, (Ph.No: 98208 89583, 022-28200593/94),” Pharmexcil stated.
The MAI scheme plays a catalytic role for promoting exports and addressing interventions required by India for exploring new markets and promoting export oriented activities for commodities and services.
It provides financial support to eligible agencies for undertaking various market access initiatives delineated in the Scheme including any direct/indirect activities for marketing, market research, capacity building, branding and statutory compliances in importing markets.
The Scheme envisages to cover the scope of both the erstwhile MAI scheme and marketing development assistance (MDA) scheme.
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