| Speaking at the three-day international pharma meet of India-Latin American countries, which began here today, the minister said: "The matter is under consideration although rupee appreciation is a complicated subject. However, the Centre is working on a slew of measures towards countering its impact on exports." He said the Prime Minister's Office had also taken cognisance of the issue. |
| About 350 delegates, including 50 foreign delegates representing trade, business and pharma bodies from Latin American countries are taking part in the meet. |
| The meet is primarily aimed at improving the country's pharma exports to the Latin America region, which is the seventh largest destination in Indian pharma exports. |
| Brazil has been one of the biggest partners of India in this region with an export turnover of about $136 million during the year 2005-06. |
| Pharmaceutical Export Promotion Council (Pharmexcil) chairman DB Mody in his inaugural address said the strengthening of rupee against dollar was hurting the exporters, which needs urgent attention. |
| Pharmexcil suggested several measures to protect the pharma exports, including concessional rate of interest on packing credit for both pre and post shipment, differential rate of buying currency from exporters, and extension of IT exemption up to the year 2009. |
| According to Mody, the Indian pharma exports are expected to touch $14 billion by the year 2009-10 from the estimated $6 billion last year. |
| M Venkateshwarulu, Drugs Controller General of India, said the government was working towards harmonising the regulations with the guidelines laid down by the International Conference on Harmonisation (ICH) for Human Use. |
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