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Indian pharma MSMEs have lot of opportunities in overseas markets: Pharmexcil

Peethaambaran Kunnathoor, Chennai
Saturday, July 16, 2022, 08:00 Hrs  [IST]

The Pharmaceuticals Export Promotion Council of India (Pharmexcil) set up under the Union ministry of commerce is working on helping pharma MSME entrepreneurs in the country to launch their products in overseas markets.
 
The Indian MSME entrepreneurs have a lot of opportunities in foreign markets to sell their products. If they want to become exporters, they have to become members of the pharmaceutical export promotion council. Once they become part of Pharmexcil, all support including financial reimbursement will be provided to them by the council, says S Murali Krishna, director of the council.
 
“Government of India wants to support the entrepreneurs for doing exports. The ministry of commerce has introduced several incentive packages for the MSMEs. Every manufacturer should come forward to avail these benefits to become global. What the government wants to support the industry for exports is being carried out by the Pharmexcil. So, it is better to do exports through the council”, he said while speaking in a seminar organized by TN IDMA as part of the pharma trade fair.
 
Addressing the entrepreneurs of Tamil Nadu, Karnataka and Pondicherry in Chennai, he said the export promotion council wants to encourage exports of drugs by Indian players to all the countries in the world. It is ready to organize business to business meetings with importers in other countries, discuss with regulatory authorities about their trade regulations, compliance of export rules and travel with the aspiring entrepreneurs to foreign countries. The council will reimburse product registration charges, patent filing charges, charges for the BA and BE studies and plant inspection charges in addition to reimbursement of the travel expenses.  
 
According to him, the registration procedures in each country are different and the exporters may not be aware of it. Similarly, the entrepreneurs do not know which market is more lucrative, which product is more demanding, whether finished formulation or API or excipient etc. In such a situation, Pharmexcil will help the entrepreneurs by finding out suitable markets and introducing them to the foreign buyers. All support is given to the exporters through the Market Access Initiative (MAI) scheme introduced by the government of India to promote exports of pharmaceuticals. He wanted the MSME industry units in Tamil Nadu to make use of all these benefits being provided by the central commerce ministry to boost our exports.
 
Pointing out the quality of Indian made drugs and their demands in foreign markets, Murali Krishna said India’s generic versions are exported to 180 countries and 8 out of the top 25 generic manufacturers in the world are Indian companies. As regards Active Pharmaceutical Ingredients, he said 90% of the WHO pre-qualified APIs are sourced from India which also caters 70% of the WHO’s vaccination requirements.
 
Regarding exports of traditional medicines, Murali said the Central government is taking various steps to promote ASU drugs into the world market and a separate Ayush export promotion council is in the pipeline. Till it is materialized, Pharmexcil will handhold the services to support the Ayush industry.

 

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