In a significant development for the Indian pharmaceutical industry, the Pharmaceuticals Export Promotion Council of India (Pharmexcil) has announced the opening of registrations on the Xmarket platform for suppliers interested in engaging in business with the United Nations Office for Project Services (UNOPS) in the Latin America and Caribbean (LAC) region.
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The online Xmarket platform (https://mercado.unops.org), launched by UNOPS, is designed to facilitate procurement processes and promote the products of registered suppliers.
By registering, Pharmexcil members will gain access to international bidding processes, requests for information (RFI), and other key events in the LAC region. This initiative is part of UNOPS broader effort to enhance access to health in the region, leveraging the expertise and products of global pharmaceutical suppliers.
“Pharmexcil urges all member companies with existing operations or interest in the LAC region to register on Xmarket and take advantage of this opportunity. The Council is committed to supporting its member exporters by providing essential information and promoting Indian pharmaceuticals internationally,” said Udaya Bhaskar, director general of Pharmexcil.
He further added that the activation of the Regional Strategy for Access to Health by UNOPS offers a significant opportunity for Indian pharmaceutical suppliers to expand their reach and engage in global markets.
The Xmarket platform represents a strategic tool in these efforts, providing a digital space for suppliers to showcase their products to a global audience.
UNOPS, known for its role in implementing humanitarian and development projects worldwide, collaborates with various partners, including the United Nations System, international financial institutions, and governments.
This initiative underscores Pharmexcil’s ongoing commitment to enhancing the global presence of Indian pharmaceuticals and fostering new business opportunities for its members.
Pharmexcil recently hosted iPHEX-LATAM business delegation (Pharmexcil Business Delegation to Colombia, Guatemala, and Chile) in the month of February this year with support of the Union ministry of commerce & industry.
iPHEX-LATAM business delegation underscored the growing importance of the LAC region as a focal point for pharmaceutical exports from India. The delegation sought to capitalize on emerging business opportunities in the LAC region, particularly in generics and active pharmaceutical ingredients (APIs).
There are 33 countries in Latin America, including Mexico, Guatemala, Honduras, Nicaragua, El Salvador, Costa Rica, Panama, Belize, Haiti, Cuba, Dominican Republic, Jamaica, Trinidad & Tobago, Barbados, St. Lucia, Grenada, St. Vincent & Grenadines, Antigua and Barbuda among others.
LATAM is emerging as a key export market for Indian pharmaceuticals, currently constituting 6.78% of our overall pharma exports. The significant potential of this region aligns with our goal to achieve the ambitious target of US$ 28.141 billion in pharma exports for the fiscal year 2024. (SOURCE https://www.pharmabiz.com/)
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