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Pharmexcil exploring various regulatory opportunities to help Indian exporters to enter Chinese market
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A Raju, Hyderabad
December 20 , 2018
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With China giving positive signals for the Indian companies to explore their markets, the Pharmaceuticals Export Promotion Council of India (Pharmexcil) is exploring various regulatory opportunities to help enter the Indian companies into Chinese markets and increase Indian exports to China in the coming days.
According to Ravi Uday Bhaskar, Director General of Pharmexcil, at present both China and India have been experiencing rapid growth and are widely recognised as two of the world’s most dynamic emerging markets. However, there is a wide trade gap between these two countries. While China has impacted API manufacturing in India by exporting 70-80% of its active pharmaceutical ingredients to India costing India US$ 2.2 billion annually, on the other hand China imports just US$ 200 million.
“The good thing is that of late China is giving positive signals for the Indian pharma industry to explore their markets. Though regulatory system in China is still rigid, we are exploring all the opportunities and in continuous talks with their regulators and their government and optimistic that in the coming days our players will also step into China to grab the highly potential Chinese markets,” said Uday Bhaskar.
While speaking to Pharmabiz, Uday Bhaskar, during a one-day workshop on the topic of ‘Regulatory practices in China and Dossier filing with National Medical Products Administration, China (NMPA)’ said among all the third world countries, China offers a very good pricing for Indian generic formulations. As China is looking at India for the high quality generics which are offered at affordable and competitive rates, there are possibilities that China will smoothen its regulations and we want to explore it further and grab the opportunity so as to increase Indian exports to China.
Uday Bhaskar also observed that Indian companies need to change their conventional style and try to focus on developing innovative molecules. He said the new trend is development of complex generics and firms must focus on improving our capabilities of generating APIs and development of fermentation techniques so that it would help the Indian firms to reduce their dependency on China for APIs in the coming days.
Giving his valuable suggestions, former DG of Pharmexcil, Dr P V Appaji said that this is the right time India must utilise all the opportunities available. He said every country is trying to self rely and emphasising on self dependency. In view of this, we need to mould according to their needs and focus on other areas, where our companies can help them achieve their goals and in turn we can also benefit equally. “Regulations are always strict wherever you go, it is not just US FDA, even EU, Africa and some of the lesser known countries are giving highest priority for quality. This is a good development for the Indian companies to further strengthen their standards of manufacturing,” said Appaji.
Overall, Pharmexcil is hoping that in the next 2 years by 2020, Indian exports will touch US$ 20 billion. “I am quite hopeful that after a recent lull of temporary negative growth in 2016, the after years have shown effective come back despite of the price erosion factor in USA. We could achieve a positive growth of 2.96% in 2017-18 and registered exports worth US$ 17.26 billion. And even in 2018-19 from April to October we have registered 12.5% positive growth and achieved US$ 1,100 million of exports in just 6 months. Last 3 months we have observed further growth of 14%. All these factors clearly lead us to forecast that Indian pharma industry will touch US$ 20 billion by end of this financial year,” the Pharmexcil DG expressed hope.
During the one day workshop, more than 200 delegates from different pharmaceutical industries across India took part and deliberated on various issues relating to regulations between India and China at Park Hayat Hotel in Hyderabad.
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