By V. Sankara Subramaniam
KUALA LUMPUR, Feb 15 -- ASEAN companies have been urged to participate in the India-ASEAN Healthcare Expo and Summit which will be held virtually from Feb 22–24 in a move to increase Indian investments in the region’s healthcare sector.
In making the call, ASEAN-India Business Council (AIBC) co-chairman Datuk Ramesh Kodammal said the trade fair would enable ASEAN companies, notably from Malaysia, to explore business prospects, besides further strengthening economic and commercial partnerships with India in the healthcare, pharmaceuticals and medical devices sector.
“The trade expo will connect the industry with stakeholders in the healthcare sector, prominent business leaders and top industrial executives, regulatory agencies and senior government officials from ASEAN countries.
“AIBC will assist in the facilitation of ASEAN companies in the India-ASEAN Healthcare Summit and arrange for related B2B (business-to-business) meetings," he told Bernama.
The India-ASEAN Healthcare Expo and Summit is organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) with the support of AIBC.
Ramesh said based on estimates, the size of the Indian healthcare market was around US$200 billion (US$1=RM4.04) and was continuing to increase on rising income level and greater health awareness.
He added that data had shown that the drugs and pharmaceutical sector was now one of the top 10 sectors attracting foreign direct investment into India.
According to Ramesh, India is the fifth largest economy in the world and is emerging as a strong trading and investment partner to ASEAN.
“Total trade between ASEAN and India amounted to US$77.1 billion in 2019 with ASEAN’s exports totaling US$48.4 billion and ASEAN imports from India at US$28.7 billion,” he added.
India’s top five major trading partners from ASEAN are Singapore, Indonesia, Malaysia, Thailand, and Vietnam.
For more details, interested companies can contact AIBC at info.asean.aibc@gmail.com.
-- BERNAMA
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