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In a major development to boost pharma trade between Myanmar and India, Raja Bhanu, director general, Pharmaceuticals Export Promotion Council of India (Pharmexcil) and Dr Win Kyaing, chairman of the Myanmar Chamber of Commerce for Pharmaceutical and Medical Device (MCCPMD) have started discussing the possibilities of trade cooperation to fast-track approval for pharmaceutical products in Myanmar.
Myanmar is one of India's important destination of pharmaceutical exports and about 60% of medicinal requirements of Myanmar are being contributed by India.
“A significant development also includes Dr. Win Kyaing, chairman MCCPMD consent to sign a MoU at iPHEX 2025 to be held between September 4 and September 6, 2025 at Bharat Mandapam, Pragati Maidan, New Delhi, expanding global pharmaceutical cooperation,” informed Raja Bhanu.
He further informed that Pharmexcil interaction with commerce and industries minister Piyush Goyal have also emphasized emerging global opportunities and the creation of a facility to enhance Indian exporters’ visibility for overseas buyers. iPHEX 2025 will provide a B2B web platform for increased accessibility. Creation of an exclusive B2B web domain at iPHEX -2025 for member companies will offer enhanced accessibility and visibility for their products and services, along with accreditations, enabling overseas buyers to interact and place orders digitally. Indian pharma companies participating in iPHEX 2025 will help showcase India’s excellence in pharmaceuticals and affordable healthcare solutions.
In 2024-25, India's pharmaceutical exports to Myanmar have seen significant growth, with Indian-made medicines capturing a large share of the market due to their affordability and quality.
Specifically, India's pharmaceutical exports to Myanmar are valued at USD 168.16 million for medicaments (put up in packings for retail sale) alone. This trade is further boosted by the Rupee Kyat Trade Settlement Mechanism, which facilitates bilateral trade in Indian rupees. Medicaments, including those for retail sale, are a major export category. Other exports include various pharmaceutical goods and vaccines.
The Rupee Kyat Trade Settlement Mechanism, operational since January 25, 2024, enables trade in Indian rupees, simplifying transactions and boosting trade volume.
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