Aug 15, Colombo: A large delegation of Indian pharmaceutical industry arrived in Sri Lanka Wednesday to set up the proposed Pharmaceutical Manufacturing Hub in Sri Lanka.

The delegation, led by Pharmaceutical Export Promotion Council of India (Pharmexcil), India's powerful promoter of $10 billion pharmaceutical exports, as a result of the the directive of Anand Sharma, Indian Minister of Industry, Commerce and Textiles.

Sharma, who visited Sri Lanka from August 2-5, assured that India and Sri Lanka will work together towards the establishment of the pharmaceutical manufacturing hub in Sri Lanka.

"Our government warmly welcomes this delegation and is ready to provide all the support needed. The arrival of pharma hub delegation from India in such a short period shows Minister Sharma's sincerity to implement the proposed pharma hub in Sri Lanka and to increase bilateral trade levels," the Minister of Industry and Commerce of Sri Lanka Rishad Bathiyutheen said.

Another Indian delegation of representatives from 20 Indian pharma firms is also scheduled to arrive in Sri Lanka to take part in the forthcoming Arogya 2012 International Healthcare Exhibition to be held from 17 to 19 August at BMICH, the Minister of Industry and Commerce said.

The Indian delegation led by Pharmexcil Director General Dr. P V Appaji has strategically timed their visit to coincide with Arogya 2012, showing their keenness on implementation of the pharma hub without delay, the Minister said.

This meeting is being strategically organised by Pharmexcil before the exclusive expo-cum-buyer seller meet (BSM) that is going to be held at Arogya-2012.

During the three day event pharma companies from India will be given an exclusive opportunity to interact with the Sri Lankan counterparts to develop not only export relation but also discuss on possible chance of developing a successful JV or investment opportunity with them in future.

Pharmexcil, the umbrella pharma export promoter functioning under Indian Ministry of Industry, Commerce and Textiles, target to double Indian pharma exports in the next two years to US$25 billion.