Medicine Export From India

Everything You Need To Know About Medicine Export from India

Reading Time: 4 minutes

In the world most generic medicine export from India. In terms of volume, the India pharma exports market is the third largest, and in terms of value, it is the thirteenth-largest pharma market in the world. It has earned itself a reputation for itself as a global industrial and research center.

The availability of skilled workers and a huge raw material base give the pharma export industry a differential advantage. By 2020, the Indian pharmaceutical export sector is expected to increase at a CAGR of 22.4 percent, hitting a value of US$ 55 billion.

Generic medicines make for about 70% of the Indian pharmaceuticals business, while over-the-counter (OTC) medicines and patented medicines 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 encourage enterprises to manufacture pharmaceutical ingredients in the country.

How Indian Pharmaceutical Exports Is an Advantage to India

  • In 2019-20, pharmaceutical export from India was worth Usd 20.70 billion.
  • In terms of incremental growth, India is expected to be one of the top three pharmaceutical markets by 2020.
  • From April 2020 to March 2021, total medications and pharmaceutical exports are worth Usd 24.44 billion, with US$ 2.30 billion in March 2021.
  • In FY20, pharmaceutical export from India US$ 3.89 billion in bulk medicines and drug intermediates, while in FY21, it exported US$ 4.43 billion.
  • In April 2021 Export of pharmaceutical products from India averaged $1.89 billion.

India has some of the world’s lowest manufacturing costs. It is lower than that of the United States and almost half of Europe. 

List of Medicine Export from India

  • Drug formulations & Biologicals
  • Bulk Drugs & Drug intermediates
  • Surgicals
  • Ayush and Herbal Products

Top Pharmaceutical Exporting Companies in India

  • JoinHub Pharma

JoinHub Pharma is one of the leading pharmaceutical export from India. They export a wide range of prescription medicines, including generic medicines and pharmacy supplies. They can supply these products to over 100,000 suppliers every day because of their extensive sales network. JoinHub Pharma is a company that sells chemical and medicine export from India. JoinHub’s product portfolio includes over 1,000 goods in various therapeutic areas, including therapies for chronic, acute, and genetic disorders.

  • Sun Pharmaceutical Industries

Sun Pharma is one of India’s most important pharmaceutical manufacturing firms since, when defined just by share value, it is the largest pharma export from India with generic pharmaceutical expertise. As a leading provider of renowned pharmaceuticals, the organization aims to reach people and touch lives worldwide. Sun Pharma sells and manufactures pharmaceuticals in over 150 countries on six continents. Its top 30 brands are among India’s top 300 pharmaceutical companies. Sun Pharma’s yearly sales in the United States account for about 60% of the total revenue.

  • Cipla Limited

Cipla is a pharmaceutical firm with a market valuation of over $150 billion. The organization’s head is Dr Raju Mistry, who is located in Mumbai. Khwaja Abdul Hamied founded ‘The Chemical, Industrial, and Pharmaceutical Laboratories’ in 1935, and now it is a multinational company that provides its medicines across the world. Cipla currently runs in eight sites across India. Cipla was ranked 3rd in India’s Most Reputable Brands in 2015, according to a Bluebytes analysis.

  • Dr Reddy’s Laboratories

Dr Reddy’s Laboratories is a pharmaceutical company based in Hyderabad, India. Hyderabad, Telangana, is the headquarters of this international organization. Its three businesses, Global Generics and Proprietary Items, Pharmaceutical Services & Active Ingredients, and Global Generics and Proprietary Products, sell a wide range of pharmaceutical products in India and 25 different countries.

  • Aurobindo

Aurobindo Pharma is one of India’s largest and leading pharmaceutical companies, producing and selling over 300 medicines in over 150 countries. It is also located in Hyderabad, Telangana, like Dr. Reddy’s. Mr. Nityananda Reddy and Mr. Ramaprasad Reddy launched the company in 1986 as a single unit making semi-synthetic penicillin. With almost 70 percent of its revenue coming from outside, the company is among India’s top ten corporations in terms of consolidated sales and exports to more than 110 countries.

Things to Consider Before Starting How to Medicine Export From India

Before starting to export generic pharmaceuticals from India, manufacturers will need to look into the following points.

  • The process for registering a product in another country.
  • Importing country’s regulatory and compliance requirements
  • The importing country may require additional certifications.
  • In terms of finding distributors, vendors, and potential buyers in the importing country.
  • Getting authorization from the Pharmaceutical Controller General of India to export generic medicine export from India.

How to Medicine Export From India

  • The first step is to apply for an IEC number (Import Export Code).
  • Contact additional countries’ exporters and whether they’re interested in importing the medications.
  • Register your product in the country from which you will be exporting it.
  • Get DCGI(Drug Controller General of India) approval for export.
  • Finalize the shipping method (you must pick this before exporting medicines from India) or choose a pharmaceutical trader, exporter, or supplier.
  • Receive the Purchase Order from the company importing the pharmaceuticals from India and provide a proforma invoice with product details such as packaging, product rate, freight information, etc.
  • Prepare a commercial invoice using the Letter of Credit or Purchase Order as a reference. Sign a contract with a freight forwarding company to have the material transported to the appropriate country.
  • After you’ve done all of the paperwork, you’ll 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 deliver to the importing country once they have received approval.
  • In the importing country, customs clearance is also necessary.

To learn more about us or more discuss medicine export from India you can contact us here!

Vaibhav Sharma

Leave a Comment

Your email address will not be published. Required fields are marked *