Lao PDR offers significant export opportunities for Indian pharma, Ayurveda and allied sectors

A Raju, HyderabadWednesday, September 23, 2020, 08:00 Hrs  [IST]

With the Lao People’s Democratic Republic (PDR) government giving highest priority for healthcare, the Pharmaceutical Export Promotion Council of India (Pharmexcil) is planning to take advantage of this opportunity and taking various initiatives to promote export of low-cost high-quality Indian generics, ayurvedic and other products of medical and healthcare sectors.

As part of this initiative, Pharmexcil in association with the Indian embassy at Vientiane, Lao has decided to organize a webinar on September 30, 2020, facilitating online meeting with members of Indian exporters, and members of regulatory, medical and health and key stakeholders from Lao.

According to Udaya Bhaskar, director general of Pharmexcil, though Lao is a small country with a very small market for the medical, health and other pharmaceuticals markets, the country offers a significant opportunity for ayurvedic and herbal products. “As part of our continuous initiative to promote Indian exports, we are planning to organize a webinar online meeting with the members of Indian exporters. The Indian embassy at Vientiane is expected to coordinate with the stakeholders from Lao for an online meeting. The webinar is also followed by a business-to-business meeting wherein the Indian exporters can utilize the opportunity and build a strong export network,” informed the Pharmexcil DG.

Apart from pharmaceuticals, medical and surgical, the Lao healthcare markets offer huge potential for the herbals and other traditional medicines. As the Lao government has recently announced its commitment for prioritizing the healthcare sector, the Indian generic players can easily cash in on the opportunity, as the demand for generic medicines is very high in the country.

“Lao though is a small country, its market offers huge potential for Indian exporters. Moreover, the government has also come up with offers and incentives for investments in the field of agriculture and pharma sectors for promoting herbals and traditional medicines,” observed the DG.

In addition to explore the available opportunities, the webinar online meeting is also expected to create awareness on the regulatory framework and registration requirements for greater market access for the Indian exporting members. The webinar will also emphasize on strengths of Indian pharma industry and investment schemes being offered by the Laos government.