We all know how the Indian Pharmaceutical Sector is big and if you are thinking of being part of this, keep reading this article. You will get a complete overview of the Indian Pharmaceutical Industry and a step-by-step procedure to Export Medicine from India. Before knowing about export medicine from India, let’s have a look at an overview of the Indian Pharmaceutical Industry.
An overview of the Indian Pharmaceutical Industry
The pharmaceutical industry in India plays a key role in Indian economic growth. Branded, generic, non-prescription, biopharmaceutical, and contract research companies make up the pharmaceutical sector. In 2017 medicine export from India was worth $17.27 billion, which was expected to grow at 30% to hit a valuation of $20 billion by 2020.
In terms of volume, the Indian pharmaceuticals industry has been the third largest and the 13th largest in value. It has established itself a name as a global manufacturing and research center.
A skilled workforce and a vast raw material base provide the industry with a differential advantage. By 2020, the Indian pharmaceutical sector was expected to increase at a Compound Annual Growth Rate(CAGR) of 22.4%, reaching a value of US$ 55 billion.
With 70% of the market, The Indian pharmaceuticals market is dominated by generic drugs, while over-the-counter (OTC) medicines and patented treatments account for 21% and 9%, respectively.
By 2023, India wants to create a fund of about Rs 1 lakh crore (US$ 1.3 billion) to boost businesses to manufacture pharmaceutical ingredients in the country.
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India Pharma Exports and Advantage India (Medicine Export Data)
- India is one of the largest medicine export from India for supplying generic medicines globally(20 to 22% of worldwide export volume).
- From April 2021 to August 2021 list of medicines exported from India was worth US$ 9.92 billion.
- Total drugs and pharmaceuticals exports were US$ 24.44 billion in FY21 and US$ 2.30 billion in March 2021.
- Pharmaceutical exports from India shipped US$ 1.37 billion in bulk intermediates from April to August 2021.
- In FY20, India exported US$ 3.89 billion in bulk drugs and drug intermediates, while in FY21, it exported US$ 4.43 billion.
- In August 2021, drug and pharmaceutical exports worth Usd 2.0 billion increased to Us$ 1.97 billion in August 2020.
- India has some of the world’s lowest manufacturing costs. It is lower than in the United States and almost half of Europe.
List of Drugs Exported from India – Medicine Export from India Unlocked
Below is the last three years’ list of medicine export from India. We can see that medicine export from India and pharmaceutical exports have grown to 7.59%.
- Drug formulations & Biologicals – (11.27% growth)
- Bulk Drugs & Drug intermediates- (-0.32% growth)
- Surgicals-(-21.32% growth)
- Aysuh and Herbal Products- (-4.04% growth)
How to Export Medicine from India – A step by step procedure
It is easy to do generic medicine export from India if you are a registered pharmaceutical company in India. Follow these steps for medicine export from India without any hassle.
- The first step for medicine export from India is to apply for the IEC (Import Export Code) number.
- Contract with other countries’ exporters who are interested in importing the medicine.
- Register your product in the country from which you will be exporting it.
- Get the approval for medicine export from India from DCGI (Drug Controller General of India).
- Select a shipping method (you must decide before pharmaceutical exports from India) or select a pharmaceutical trader, exporter, and supplier.
- Receive the Purchase Order from the company importing the pharmaceuticals from India and send a proforma invoice that includes product information such as type of packaging, product rate, freight information, etc.
- Setup commercial invoice against Letter of Credit or Purchase Order.
- Sign a freight forwarding company contract to have the material shipped to the appropriate country.
- After completing all of the paperwork, you’ll need to go through customs clearance. You can do this with the help of an agent to save time, or you can do it yourself.
- The pharmaceutical products will be transported to the importing country once they have received clearance.
- In the importing country, customs clearance is also required.
Wondering how to apply for IEC Code and how to register for IEC Code, then check out.
Things to Know Before Starting Generic Medicine Export from India
Manufacturers of pharma exporters in India will need to consider this procedure to Export medicine from India including generic medicine export from India:
- The procedure for registering a product in another country,
- The importing country’s regulatory and compliance requirements,
- The importing country may demand additional certifications,
- This method (registration) is used to locate distributors, sellers, and possible buyers in the importing country.
- In the importing country, an established of an efficient supply chain system
- Customs clearance procedure.
- Obtaining permission from the Drug Controller General for generic medicine export from India.
GFE – Impexperts Can be Your Great Help for Medicine Export from India:
Pharmaceutical exports from India come with many legal requirements. However, after getting the required rights and licenses from the appropriate authority, you will be able to export pharmaceuticals to other nations. It will allow you to grow your company’s footprint and gain new markets.
GFE helps all inspirational importers and exporters in running their businesses. We have helped 1000+ exporters so far, and we would like to do the same for you.
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Get in touch with our import export professionals today at +91 9211066888or click the button below to start the conversation ASAP.
1. Is a drug license required to export medicine from India?
Under specific items of Chapter 30 of the HS code(HTS code), exporters must get a certificate from the wildlife protection board and a NOC from the Drug Controller to medicine export from India.
2. Which is the No 1 pharma company in India?
Sun Pharma is the no.1 medicine export from India.
3. Which countries import medicines from India?
Following are the top countries that import medicines from India:
- The United States of America,
- The United Kingdom,
- South Africa,
4. Who is India’s biggest pharma exporter?
JoinHub Pharma is the biggest medicine export from India.
5. How do I start exporting medicine from India?
- The first step is to get an IEC number (Import Export Code),
- Contact other countries’ exporters to see if they’re interested in importing the drugs,
- Register your product in the country from which you will be exporting it,
- Get DCGI approval for export (Drug Controller General of India).
6. Is the medicine export from India profitable?
Yes. Generic drugs contribute to the majority of pharma exporters in India. Generic medicine export from India represents over 70% of the global market. On the other hand, licensed and over-the-counter medications represent only 9% and 21% of the market, respectively.
Medicine export from India is worth $17.27 billion in 2017 and is predicted to rise at a 30% annual rate to $20 billion by 2025. India is also the world’s largest exporter of generic medications, contributing to about 22% of total export volume.
7. India exports medicines to which countries?
India exports medicines to the following countries:
- North America,
- The Middle East,
- South Asia,
- Asia (Excluding Middle East),
- Other European Countries,
- Other America,
- US Minor Outlying Islands.