Indian Minister of Commerce and Industry Suresh Prabhu (Photo: VNA)

New Delhi (VNA) – Vietnam joined 119 countries and territories worldwide to attend the International Exhibition of Pharma and Healthcare (iPHEX) which kicked off in India on May 8.

Twenty Vietnamese companies brought to the exhibition their latest products, technologies in pharmaceutical production as well as medical equipment.

According to General Secretary of the Vietnam Pharmaceutical Companies Association Tran Thi Thu, the Vietnamese delegation’s participation in the event aims to study the market as well as seek business opportunities with Indian firms and other foreign partners.

India is a large market that poses huge potential to cooperate, she noted.

At the exhibition, Indian Minister of Commerce and Industry Suresh Prabhu underlined that the Indian Government is working to bolster shipment of pharmaceutical products to foreign markets.

Indian pharmaceutical sector is estimated to account for 3.1-3.6 percent of the global pharmaceutical industry in value terms, and 10 percent in volume term. The country is believed to be the largest provider of generic drugs globally with the Indian generics making up of 20 percent of the global exports in terms of volume.

In the framework of the exhibition, which is billed as one of the largest showcase of Indian pharmaceutical products and technologies to a global audience, there will be seminar on development strategy for Indian pharmaceuticals, market opportunities, and meetings between experts and managers to share information and seek business cooperation.

The exhibition will run until May 10.-VNA