How To Export Medicine from India | Everything you Must Know

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One of the biggest pharmaceutical industries in the world, India provides generic medications to many different nations. 

 

India is third in the world in terms of volume, while it is ranked thirteenth in terms of value. India has made a name for itself as a worldwide industrial and research powerhouse over the years. 

 

Indian pharmaceutical exports have been steadily increasing in recent years, and they are now a viable economic possibility. 

 

Exports of generic medications from India have increased in value, with a compound annual growth rate of 22.4%. Let's now examine how companies might export medicines from India effectively and without running afoul of the law.

 


 

 

 

India's export of medicines

Generic pharmaceuticals largely predominate the export of goods from India. Nearly 70% of the world market is made up of generic medication exports from India.

 

Conversely, just 9% and 21% of the market is made up of patented and over-the-counter medicines, respectively. India exported drugs worth $17.27 billion in 2017 and was projected to rise at a rate of 30% to reach a value of $20 billion by 2020. 

 

Additionally, India accounts for about 22% of global generic drug exports, making it the largest exporter in the world. India has far lower manufacturing prices than the USA and Europe, which explains why. 

 

The following are the top countries from which India exports medicines:

 

  1. United States of America
  2. United Kingdom
  3. South Africa 
  4. Russia 
  5. Nigeria 

 

 

Things to keep in mind to Export Medicine from India

  • According to our foreign trade policy, only licenced pharmaceutical businesses are permitted to export pharmaceuticals from India. The company must first apply for an Import Export Code and register with the Director-General of Foreign Trade.
  • The business must be registered either as Private Limited Company Registration Online, LLP (Limited Liability Partnership) or One personal Company.
  • Once they have all the required paperwork, the business owners must make contact with people in importing nations to locate a vendor or buyer who is interested.
  • To avoid issues later, businesses must first review the rules of the country they are importing from and officially register their product there.
  • They must have the Drug Controller General of India's permission after receiving it from the importing nation.
  • These are essential since pharmaceuticals and medicines are significant goods that may have an adverse effect on customers' general well-being and health.
  • After that, it will be up to the company owners to decide on a shipping strategy that will work for them. To avoid needless delays and issues, business owners must ensure they only use reputable organisations to deliver their goods.
  • Following the conclusion of these formalities, the business will need to wait for the buyer or vendor to finalise the purchase order. Similar to the order confirmation, a proforma invoice with information on the product details, packing needs, and freight details will be sent by the buyer together with the order.
  • Depending on how they intend to finance the order, the business will then need to create a commercial invoice to be submitted against this purchase order or Letter of Credit.
  • To ensure effective order fulfilment, the business owners must next execute a contract with the shipping or freight forwarding company.
  • The final step after finishing the documentation procedure is customs clearance, which can be efficiently handled by engaging an agent. In the same way, when the goods cross customs, they will be transported to the country of import and may be dispersed as necessary.

 

 

IEC Registration to export medicines from India

  • People must go to the official DGFT website, select the "Online Application" button, and select the "IEC" option from the drop-down menu.
  • To continue, select the "Online IEC Application" option.
  • Use your PAN to log in to the system, then select "Next."
  • Additionally, select the "File" tab and press the "New IEC Application Details" button.
  • Additionally, a new window with an application form that people must accurately complete will be opened.
  • Users must click the "Upload Documents" option in order to continue after submitting the form and verifying all the information they provided.
  • The users must then click the "Branch" button to enter more information about their branches after uploading all the necessary supporting papers.
  • Users must then use the "Director" tab to add information on the company's directors.
  • Finally, users should click the "EFT" option to finish the online IEC application procedure by paying the necessary processing fees in the amount of INR 250. Within 15 days of submitting an online application, applicants must also provide a hard copy of their application and the necessary supporting documentation to the DGFT's office.

 

Documents needed to export pharmaceutical products from India 

  • Company's PAN number
  • Certificate of incorporation (Company Registration Online Certificate)
  • Bank account statement
  • Financial records
  • Bankers Certificate 
  • Indian Trade Classification (HS) of the goods
  • IEC Number
  • Evidence of company property ownership or a rental arrangement
  • Cancelled check
  • WHO: GMP certification
  • Dossier including the following information:

·         Product details

·         Approved generic names

·         Strength per dosage 

·         Dosage form

·         Visual description 

·         Details regarding the packaging 

·         List of countries in which the product has been approved, rejected and withdrawn 

·         List of all active pharmaceutical ingredients with their properties 

·         Sites of manufacture and method of synthesis

·         Stability testing

·         Efficacy and safety

 

PHARMACY EXPORTS AND THE BENEFIT OF INDIA

  • India's pharmaceutical exports, which totalled US$17.27 billion in 2017–18, are projected to increase by 30% by 2020 to reach US$20 billion.
  • Between April and October 2018, exports of pharmaceutical items totalled $10.80 billion USD.
  • From April to October 2018, the USA ($3.21 billion), the UK ($383.30 million), South Africa ($367.35 million), Russia ($283.33 million), and Nigeria ($255.89 million) were the biggest importers of pharmaceutical* items from India.
  • In terms of incremental growth, India is anticipated to be among the top three pharmaceutical markets by 2020.
  • India is the world's biggest provider of generic medications (20 to 22 per cent of global export volume)

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