Bahrain, India discuss opportunities in pharmaceuticals and alternative medicine sector
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Bahrain and India yesterday discussed ways to enhance opportunities in pharmaceuticals and alternative medicine sector. In a webinar organised by the Indian Embassy and Pharmexcil in partnership with the Bahrain Chamber of Commerce and Industry (BCCI) and National Health Regulatory Authority (NHRA), Indian Ambassador Piyush Srivastava was the chief guest.
In attendance was Pharmexcil chairman Dr Dinesh Dua, BCCI Health Committee head Dr Ebtisam Al Dallal, NHRA’s Nawal Shaboon, Pharmexcil director Lakshmi Prasanna, BCCI Health Committee member Dr Noor Janahi, Gulf Pharmacy chairman Dr Khalid Al Awadhi, and over 120 companies from both countries in the pharmaceutical, Ayurvedic and Homoeopathic sectors. The panellists shared their views on various aspects of Indian pharmaceutical industry, strong healthcare sector in Bahrain, regulatory procedures and ways to enhance bilateral trade and investment in healthcare sector.
Ambassador Srivastava, in his keynote address, highlighted the historically close relations between India and Bahrain which have recently expanded and diversified. He highlighted the huge potential of bilateral trade investment in the health services sector including pharmaceuticals, Ayurveda and Homoeopathy, medical devices and instruments. He hoped that such meetings would lead to concrete business proposals between companies of the two countries.
Dr Dua spoke about India being the ‘Pharmacy of the World’ and its network of pharmaceutical brands creating cost effective and quality generic medicines which have been a panacea for the world. He emphasised that India went a step ahead during COVID-19 and supplied Hydroxycholoroquine and other related drugs to many countries around the globe.
Dr Al Dallal stressed the long standing relations between the two friendly countries and India being a valuable trading and development partner for Bahrain.
Dr Janahi made a presentation on the market of pharmaceuticals and alternative medicine in Bahrain, stressing on favourable regulatory environment, taxation system and its location as gateway to GCC countries, making the Kingdom the perfect location for such investments.
Prasanna gave a presentation on the strengths of Indian pharmaceuticals and the opportunities ahead for India and world at large, especially related to the huge size of market for generic medicine in Bahrain and India’s huge capacity and expertise in it.
Shaboon spoke at length about Bahrain’s regulatory procedure and requirement for framework for foreign companies and investors in this sector.