Guwahati: The first ‘SCO B2B Conference and Expo on Traditional Medicine’ came to a successful end as it created a platform for buyers and sellers from different countries to explore trade potential to serve the needs of the people.
An incremental trade interest of over ₹590 crores was generated during the two days of intense meetings among the buyers and sellers at the conference.
This first-of-its-kind conference & Expo under the SCO initiative was inaugurated by the Union Minister of Ports, Shipping & Waterways and Ayush, Sarbananda Sonowal on March 2 at the Radisson Blu hotel in Guwahati.
More than 150 delegates from 17 countries attended the two-day conference and four-day Expo, which ended on Sunday.
Speaking on occasion, the Union Minister, Sarbananda Sonowal, said, “It is a moment of great realisation that this wonderful initiative has borne fruit with trade interest of more than ₹590 crores generated during the event.”
While this marks the immediate success of the Expo, the conference also laid the foundation for further interaction & expansion of cooperation among the states under the SCO initiative.
“This is a huge shot in the arm for the Indian Ayush market as this event provided the platform to further the trade potential among the SCO member states for improving the quality of lives of people,” Sonowal said.
Under the aegis of the Ministry of Ayush, Invest India conducted B2B meetings in a dedicated B2B lounge at the event with the support of Ayushexcil (Ayush Export Promotion Council).
More than 56 exhibitors – who participated in the Expo – and buyers from 19 countries discussed and expressed their interest in trade in traditional medicine.
More than 50 one-to-one meetings between buyers and sellers were conducted on day 1 of the conference.
Among the spectrum of traditional medicinal products, the maximum interest was seen in product categories like Ayurvedic medicines, herbal nutraceuticals, Ayurvedic cosmetics etc.
Over 75 meetings took place on Day 2 of the event, where participants from India, Tajikistan, Armenia, Uzbekistan, Mongolia, Kazakhstan, Bahrain & Sri Lanka engaged.
The trade interest of ₹590 crores was received in the B2B meetings from companies like Damaira Pharma, AIMIL Global, Herbal Strategi Homecare, Almaty, Dindayal Industries, Fidalgo Healthcare and many more.
The trade interest was received across product categories like Ayurvedic gels & oils, capsules, Ayurvedic hair remedy products, nutraceuticals, Ayurvedic home care and Hygiene & Veterinary products. The industry received as many as 9 Letters of Intent (LOIs).
The establishment of the WHO Global Centre of Traditional Medicine in Jamnagar, India, is a step in this direction.
The inaugural session of the SCO conference was inaugurated on March 2 in Guwahati which was also attended by the Union Minister of State for Ayush and Women & Child Development, Dr Mahendrabhai Munjpara; Minister of Health, Myanmar, Dr Thet Khaing Win; Deputy Minister of Health, Maldives, Safiyya Mohamed Saeed and Secretary, Ministry of Ayush, Vaidya Rajesh Kotecha among others.
The B2B Conference & Expo on Traditional Medicine under SCO was held from March 2 to 5 at Guwahati.
The Conference and Expo provided an opportunity for regulators, industries and business leaders in all the SCO and partner countries to deliberate on various aspects of Traditional Medicine, such as products, services, education,skill development, cosmetics and Policies.
It further deepens the trade and friendship among each other in traditional medicine and allied field. More than 150 delegates from 17 countries, including India, participated in this event, including high-level delegates such as Health Ministers, official delegates, and foreign buyers from SCO & partner countries. Seventy-five foreign officials and business delegates from 13 countries participated in person.
Official delegates from China, Uzbekistan, Kyrgyzstan and Kazakhstan joined virtually through the internet. The B2B conference witnessed detailed presentations and deliberations from SCO and partner Countries on ‘Regulatory Framework for Traditional Medicine’ Products and practices, including Pharmacopoeia, Quality assurance and Research.
There was deliberation on how to promote Traditional medicine. Sessions like ‘Know your buyer’ and ‘B2B meetings’ for discussing specific productwise, export & import opportunities and deeper economic partnerships helped garner interest for market access across SCO countries.
The event aimed to unlock trade opportunities in traditional medicine amongst SCO and partner countries.
The Ayush and Foreign Traditional Medicine industries/exporters/importers showcased their products & services at the Expo.
The discussion aimed at understanding trade patterns and market scenarios from Pharma & drug manufacturers’ points of view.
The Shanghai Cooperation Organization (SCO), or Shanghai Pact, is an Eurasian political, economic, and security alliance of eight member multilateral organisation, established on 15th June 2001 in Shanghai, China.
SCO includes eight member states, three observers and 14 dialogue partner countries.
India was granted Observer status at the July 2005 Astana Summit and the status of full member in June, 2017 at the SCO Summit in Astana, Kazakhstan.
The draft approved at the expert level will now be subjected to other respective country administrative procedures and finally adopted at the Head of the States Summit.