RUDY TO INAUGURATE INDO-LAC HEALTH SUMMIT
ON 18 SEPTEMBER
A four-day Indo-Latin America Health Summit is
being organised here at Pragati Maidan, from 18th-21st
September 2002 by the Department of Commerce, Ministry of Commerce
& Industry, Government of India, and the Federation of Indian
Chambers of Commerce & Industry (FICCI). EXIM Bank is also
closely associated with the Summit and is an event partner. Shri
Rajiv Pratap Rudy, Minister of State for Commerce & Industry,
will inaugurate the Summit on 18th September 2002.
Commerce Secretary, Shri Dipak Chatterjee will deliver a keynote
address at the Summit.
High-level Health Ministry delegations from Uruguay,
Paraguay, Chile, Peru, Bolivia, Brazil, Jamaica, Guyana, Panama,
Nicaragua and Trinidad & Tobago are participating in this
Summit. Ministers/Vice-Ministers of Health from five of these
countries will lead their delegations.
Renowned Indian pharma companies like Alkem Laboratories,
Famy Care Ltd, IPCA Laboratories, Unichem Laboratories, Elder
Pharmaceuticals, Alembic Ltd, Aurobindo Pharma, Orchid Health
Care, Ranbaxy Laboratories, Unique Health Care, Unimark Remedies,
Torrent Pharmaceuticals, Cadila, Dr Reddy's Laboratories, etc.
will showcase India’s capabilities in the pharma and healthcare
sectors to the visiting Latin American delegations at an exhibition
in the Hall No. 12-B, Pragati Maidan, New Delhi.
Latin America, with a population of about 500
million has immense potential for the export of India’s pharma
and health sector products and services. Presently, Latin American
countries import their pharmaceutical requirements in bulk from
the developed countries at a much higher cost compared to the
Indian prices. It is projected that government spending on the
health sector in Latin America would grow at approximately 8.5%
per annum. According to an estimate, the market potential for
pharma products in Latin America is about US$ 28 billion. India’s
share in this huge market is currently less than 1% indicating
the tremendous potential for growth.
In addition to showcasing Indian capabilities
in the field of pharmaceuticals, biotechnology and healthcare
services, this Summit will also underscore India’s capability
to offer a steady and sustainable supply of drugs of international
quality at very competitive prices.
This Summit will provide an opportunity to the
Latin American participants to interact with leading Indian pharma
companies and healthcare services providers. This will lay the
foundation for sustainable partnerships in the pharma and healthcare
sectors in the form of Indian joint ventures and subsidiaries
in the Latin American countries.
