03-Mar-2023
As we know, the Indian pharmaceutical industry is the third-largest by volume and the thirteenth-largest by value. Also, it has become a top global industrial and research center. The Indian Pharmaceutical market is dominated by generic drugs which comprise almost 70 percent of the market, although Over the Counter medicines and patented drugs makeup up twenty-one percent and nine percent respectively. Most medicines exported from India today are drug formulations and biological, which make up almost 75% of all exports. In this blog, we will discuss how can I export pharma products from India.
India is known for its generic drug production and has been recognized as the pharmacy of the world. According to Indian Trade Data, the country's pharmaceutical industry is growing at a rapid pace and is expected to reach USD 120-130 billion by 2030. In 2020, India's pharma exports stood at USD 24.44 billion, and the industry has set a target to achieve USD 25 billion in exports in 2021-22.
The Indian pharmaceutical industry is also known for producing cost-effective drugs and has a significant market share in the global market. India exports its pharmaceutical products to more than 200 countries worldwide. With the growing demand for pharmaceutical products globally, the export potential for Indian pharma companies is significant.
To export pharmaceutical products from India, certain documents need to be obtained. These documents may vary based on the destination country and the type of product being exported. However, some of the essential documents required for exporting pharmaceutical products from India are:
Drug License: A drug license is required to manufacture and export pharmaceutical products in India. This license is obtained from the Central Drugs Standard Control Organization (CDSCO).
Export License: An export license is mandatory to export pharmaceutical products from India. This license is obtained from the Directorate General of Foreign Trade (DGFT).
Invoice: The invoice should include details such as the name and address of the exporter and importer, the product name, quantity, value, and shipping details.
Certificate of Origin: This certificate certifies that the pharmaceutical products are of Indian origin.
Free Sale Certificate: A free sale certificate is a document issued by the regulatory authority that certifies that the products are freely sold in India.
Analytical Report: The analytical report includes details about the quality and composition of the product.
Packaging List: The packaging list provides details about the contents of the shipment, such as the number of boxes, weight, and dimensions.
Also, there are several mandatory documents are needed for exporting pharmaceutical products.
India exports a wide range of pharmaceutical products, including active pharmaceutical ingredients (APIs), formulations, biotech products, and vaccines. Some of the medicines that are mostly exported from India are:
Anti-cancer drugs: India is the largest exporter of generic anti-cancer drugs globally, accounting for over 20% of the global market share.
Anti-diabetic drugs: India is one of the largest producers and exporters of anti-diabetic drugs in the world.
Anti-infective drugs: India is the largest supplier of generic anti-infective drugs globally, with a market share of over 10%.
Cardiovascular drugs: According to Import Export Data, India is the largest exporter of generic cardiovascular drugs globally, accounting for over 14% of the global market share.
Nutraceuticals: Nutraceuticals are products that provide health benefits and are derived from food sources. India is one of the largest producers and exporters of nutraceuticals globally.
India's pharmaceutical industry is highly fragmented, with a large number of small and medium-sized enterprises (SMEs) operating in the sector. However, if you need the most recent pharma export data or know who is the biggest pharma exporter in India, ExportImportData.in is the best website to analyze the current market statistics for the pharma industry. We provide the most authentic import export data for global countries, HS Codes for Pharmaceutical Products, and much more. If you have any queries regarding the export-import procedure for pharma products, we are always ready to furnish you with the best market information to expand your business worldwide.
Export Import Data solutions is one of the best online import export websites in India that provides trade data services and trading business information. Currently, Export import data is the best import export data provider and market research companies in India.
