IBA Moscow to join hands with Pharmexcil for boosting Indian exports
Thursday, June 24, 2004 08:00 IST
Indian Business Alliance (IBA), Moscow, the informal business alliance of major Indian drug exporters to Russian market, would turn IBA into an official platform in association with Pharmaceuticals Export Promotion Council (Pharmexcil) for protecting Indian interests in the region.
IBA feels that its coordination with the newly formed council would help Indian exporters take up official level talks with the Russian government. IBA is a loose grouping of top 10 Indian players in Russian market.
According to industry sources, there is a strong need for persistent lobbying with the Russian authorities to avoid all kinds of discrimination against Indian products. "The reports of the presence of sub-standard, spurious drugs in India have created a bad image for the entire industry. There are concerted efforts from various quarters to tarnish the image of Indian drug industry by highlighting such instances. We also want Russian authorities to recognize Indian companies that have been providing drugs of international standards. The IBA once formally aligned with Pharmexcil would become the right platform to take up such issues", they felt.
Pharmexcil's first job would be to build up a new-look image for Indian drug industry. It will also have to lobby against discrimination, sources informed.
While Pharmexcil is yet to overcome its birth pangs, IBA has for the first time organized an interface of Indian pharmaceutical exporters and the drug regulatory authorities and health experts of Russian government. The conference, "Past, Present and Future of Indian Pharmaceutical Business in the Russian Federation" took place on June 21, 2004.
As Pharmabiz had reported earlier, the seminar is expected to help Pharmaceutical houses in Russia to develop their database with fresh information on products, its prospects, contacts, practical problems and its solution.