New Delhi, Feb 22 (IANS): India will host the World Integrated Medicine Forum on Regulation of Homeopathic Medicine -- to be inaugurated by AYUSH Minister Sripad Yesso Naik -- here from February 23.

The two-day meet, the first of its kind, will witness signing of a memorandum of understanding between the Homeopathic Pharmacopoeia Convention of the US (HPCUS) and Central Council for Research in Homeopathy (CCRH) in Homeopathic Medicine.

According to the AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) Ministry, the forum will consider the increased perception of the world towards India as a key player in the progress of the homeopathy drug industry.

"Drug lawmakers, regulators, manufacturers and pharmacopeial experts from various regulatory authorities, eminent scientific organisations and pharmaceutical industries from 25 countries, are participating in the two-day forum to strategise the actionable aspects in the homeopathic drug industry," a ministry statement said.

"The industry will in turn promote global harmonisation in the sector," said the statement.

The event will be organised by the AYUSH Ministry and CCRH and supported by Pharmacopoeia Commission for Indian Medicine and Homeopathy (PCIMH) and Central Drugs Standard Control Organisation (CDSCO).

The major points of discussion will be current regulatory status in different countries, practices and possible trade opportunities in key countries worldwide, possible solutions to regulatory challenges, building knowledge and network to deal more efficiently with challenges at national and global level.

"A strategic perspective on the possibilities and limitations of what can be achieved at a national level through further international collaboration and harmonisation will also be discussed," said the statement.

The signing of the MoU will be a benchmark for many more agreements to follow with the aim to develop and harmonise homeopathic pharmacopoeias and to strengthen regulatory provisions for homeopathy in the whole world.