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Commerce ministry to promote investment opportunities for veterinary vaccine plants in Vietnam
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Suja Nair Shirodkar
August 29 , 2015
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Keen to tap the growing export market for the veterinary medicines from
India, the ministry of commerce plans to initiate special measures to
promote veterinary medicines and investment opportunities in veterinary
vaccine plants in Vietnam. Through this initiative, the Centre plans to
create market opportunities for domestic sales as well as boost export
of vaccines from Vietnam to other Asean countries.
This move
comes in the wake of surge in demand for veterinary medicines and
vaccines, both human as well as veterinary, from Vietnam and other ASEAN
countries. It is understood that Vietnam is an important destination
for Indian pharma exports in the ASEAN region.
Dr P V Appaji,
director general of Pharmexcil informed that despite few challenges in
exporting Indian medicines to Vietnam, country's exports for the year
2014-15 have grown by 8 per cent when compared to the previous year.
“The
ministry is always on the lookout for favourable market trends that can
be suitably utilised to spurt the growth of the Indian exporters. We
have been shadowing the recent market demands and changing dynamics in
these markets and found that it is the correct time to tap the same as
it provides conducive growth factors. It is in this context that the
department of commerce has proposed initiating measures to promote and
encourage possible investments opportunities in veterinary vaccine
plants in Vietnam by member companies,” Dr Appaji added.
He
further urged member companies interested in exploring these export
opportunities to give their suggestions at the earliest so that
Pharmexcil could submit their recommendations to the ministry at the
earliest.
It is understood that technological advancement in
development of new active ingredients and biologics, increasing zoonotic
diseases, and intense factory farming is fueling the growth of the
animal healthcare market. Reports forecast that animal healthcare market
is anticipated to expand CAGR of 5.1 per cent in the coming years,
offering various biotechnology, feed manufacturers, and animal
healthcare companies unprecedented opportunities in the space of animal
healthcare market.
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