Pharmexcil urges exporters to share their challenges & strategies for enhancing pharma exports

The Pharmaceuticals?Export?Promotion Council of India (Pharmexcil) has sought inputs from member exporters on matters related to tariff and non-tariff barriers while?exporting?to various countries as part of an endeavour to enhance India’s pharmaceutical exports in existing and emerging markets.

?

India’s share of pharmaceuticals and drugs in the global market is 5.71%. Formulations and Biologics constituted the major portion of India’s exports with a share of 72.54% followed by drug intermediates and bulk drugs. In FY25 (until June 2024), the exports of drugs and pharmaceuticals stood at USD 7.20 billion. During FY24 the exports of drugs and pharmaceuticals stood at USD 27.82 billion. In FY23, the exports of drugs and pharmaceuticals stood at USD 25.4 billion. During 2021-22, the country exported pharma products worth USD 24.59 billion, while in 2020-21, the exports grew at 18% YoY to USD 24.44 billion.

?

This robust performance was achieved despite the global supply chain disruptions, lockdowns, and subdued manufacturing. The USA, Belgium, South Africa, the UK, and Brazil were India’s top five export destinations in FY23. India played a key role during the COVID-19 pandemic and demonstrated its ability to be a consistent and reliable pharma supplier to the world even during times of crisis.

?

“Pharmaceutical exports are critical for the growth and global reach of the Indian pharmaceutical industry. However, challenges such as tariff and non-tariff barriers often hinder seamless trade. To address these concerns and further bolster our efforts in expanding the presence of Indian pharmaceuticals in existing and emerging markets, Pharmexcil invites all its members to actively participate in a collective effort to enhance exports,” said K Raja Bhanu, director general, Pharmexcil.

The council asked exporters to provide details of the challenges faced or being faced during exports to various countries. These may include tariff barriers viz. custom tariffs and non-tariff barriers such as BA/BE studies, banking issues, government procurement, product registration, trade agreements, WTO matters etc, stated Bhanu.

?

“We are seeking input from both internal and external stakeholders to overcome challenges in the current market as well as foster innovation and drive sustainability in the development of new molecules, products, and processes,” he said.

?

To facilitate the process, a dedicated section titled "Issues & Strategies" has been created on the Pharmexcil website. Members are encouraged to upload their inputs under this tab at the earliest, stated a notification issued by Pharmexcil on December 3, 2024.

?

“Our member exporters’ contributions are invaluable in enabling us to present a comprehensive case to the relevant authorities and stakeholders for the resolution of trade barriers and the adoption of effective strategies. Together, we can ensure the continued growth of Indian pharmaceutical exports,” stated Pharmexcil director general.