How to Export Medicines from India to Other Countries – The Indian pharmaceutical industry enjoys a superior position globally as one of the largest drug providers. In FY20, the pharma exports from India stood at 13.69 billion. The Indian pharma industry is the third-largest in volume and the thirteenth-largest in value. The availability of a skilled workforce and raw material base is a competitive advantage for this industry. Eridanus Healthcare, Eridanus Healthcare, one of the best Neuro Pharma Franchise Companies has compiled this blog on how to Export Medicines from India to Other countries to help you learn more about the export process.

As per reports, this industry will grow at a CAGR of 22.4% to hit US$ 55 billion by 2020. Generic drugs dominate this market, encompassing about 70% of the market, while OTC medicines and patented drugs make up 21% and 9%. If you want to export medications from India to other countries, you have come to the right place. This article explains How to Export Medicines from India to Other Countries. Read on.

How to Export Medicines from India? | Explanation Guide

For a registered pharmaceutical company, it’s easy to export medicines from India. They need to register with the Director-general of the foreign trade. In addition, they need to apply for the Import Export Code (IEC). Also, they need some documents for exporting medicines from India. The procedure for exporting medicine from India to other countries is listed below.

Apply for the Import Export Code.
Contact the individuals interested in importing the medicines.
Register your product in the country.
Get export approval from DCGI.
Decide the shipping method or select the exporter, supplier, and trade of pharma medicines.
Obtain the purchase order from the importer.
Send a proforma invoice with product details, including the rate, freight details, and type of packing.
Design commercial invoice against a purchase order or letter of credit.
Sign a contract with the freight forwarding agency to ship the material.
Once you complete all the documentation, move the customs clearance.
Appoint an agent or do customs clearance on your own.
After getting it, you can ship medicine to the importing country.
You may require customs clearance in the importing too.

Follow the above-listed process to export medicine from India to other countries. However, you have to register for an IEC number before proceeding. So, keep reading the blog to know the procedure for applying the Import Export Code.

Steps to Apply for Import Export Code to Export Medicines

As stated above, for exporting medicine from India to other countries, an individual must possess Import Export Code. The procedure for applying the IEC number is easy. Follow these steps:-

Firstly, visit the official website of the Directorate General of Foreign Trade.
Navigate to the Online Application tab and select the Import Export Code (IEC) from the menu.
Choose Online IEC Application.
Enter your PAN number.
Log in and click the next.
Go to File and click on the New IEC Application Details.
A form will appear. Fill in the details.
Click on “Upload Documents.”
Once you upload the documents, click on the “Branch Button” to add branch details.
Click on “Director” and add the details of the directors.
Hit the “EFT” option to make an online payment.
Fill in the amount details. (Around 250/- Rs.)
Select your bank to complete the transaction.
The draft invoice will appear.
Click on the “Pay now” button.
Pay through internet banking.

Things to Know Before Venturing Into the Business of Exporting Medicine From India

Before you start exporting medicines from India to other countries, you should know the following things.

The procedure of registering the product in a foreign country
Regulatory and compliance requirements
Additional certifications required
Way to find distributors, vendors, and potential buyers
Establishment of an efficient supply chain system
Process of customs clearance
Obtaining export permission from India from the DCGI

Documents Required for Exporting Medicine from India

For exporting medicines from India to other countries, you need some documents. Without them, you can pursue this process. The documentation required for exporting medicine from India is as follows:-

IEC Number
Incorporation Certificate
Company PAN number
Bank account statement
Bankers Certificate
Indian Trade Classification (HS) of the product
Proof of ownership of business premises
Canceled cheque
WHO: GMP certification

In addition, you need a dossier containing the following details;

Product details
Approved generic names
Strength per dosage
Visual description
Dosage form
Details regarding the packaging
List of nations where the product has been approved, withdrawn, or rejected
List of active pharmaceutical ingredients
Sites of manufacture
Method of synthesis
Stability testing
Efficacy and safety

Facts About Indian Pharmaceutical Exports

In the year 2017, India exported pharma medicines worth $17.27 billion. It was estimated to grow at 30% to touch a valuation of $20 billion by 2020. In addition, India is the world’s largest exporter of generic medicines. It makes up over 22% of the total export volume. India has much lower manufacturing costs when compared to the USA and Europe. The top import nations for medicines from India are the United States of America, the United Kingdom, South Africa, Russia, Nigeria, etc.

More Highlights of Indian Pharma Exports:-

India has lower manufacturing costs than the USA and almost half of Europe.
India is known as one of the largest suppliers of generic medicines globally.
The pharmaceuticals exported from April 2021 to August 2021 were US$ 9.92 billion.
From April 2021 to August 2021, India exported US$ 1.37 billion of bulk drugs & drug intermediates.
In FY20, India exported US$ 3.89 billion of bulk drugs & drug intermediates, and in FY21, it was about US$ 4.43 billion.

So, this write-up explains “How to Export Medicines from India to Other Countries.” We hope that you might have gotten the information you were looking for regarding this matter. Apart from this, if you are looking to try your hands over PCD Pharma Franchise Business, Eridanus Healthcare offers monopoly-based franchise business opportunities at pocket-friendly prices. Contact us to know more.

Frequently Asked Questions

Q. Can you export medicines from India to other countries?

A. Yes, if you have a registered pharmaceutical company, you can export medicines from India to other countries as per Foreign Trade Policy. For this purpose, you need the import-export code.

Q. Which are the Top Import Nations for medicines from India?

A. The United States of America, the United Kingdom, South Africa, Russia, Nigeria, etc., are the top import nations for medicines from India.

Q. What is the procedure to export medicines from India to other countries?

A. You need a few things to start exporting medicines from India to other countries, including import-export code, registration with DGFT, etc. For more details, head to this section.

Q. How to get an import-export code in India?

A. Now, you can apply for an import-export code in India online. To know the complete process of applying for an import-export code, click here.

How to Export Medicines from India to Other Countries