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Pharmexcil initiates high-level discussions with key ASEAN nations to strengthen pharma trade
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Shardul Nautiyal, Mumbai
May 15 , 2025
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In a strategic move to strengthen pharmaceutical trade relations with the Association of Southeast Asian Nations (ASEAN) region, the Pharmaceuticals Export Promotion Council of India (Pharmexcil) has initiated high-level discussions with key ASEAN nations, including Vietnam, the Philippines, and Malaysia. This development marks a significant step toward deeper regional integration in the healthcare and pharmaceutical sectors.
The dialogue follows a series of recent business-to-business (B2B) meetings between Indian pharma companies and over 70 Vietnamese firms. With ASEAN already accounting for 11 per cent of India’s global trade, valued at USD 122.67 billion in 2023–24, the region is emerging as a critical partner in India’s export strategy.
Vietnam’s healthcare sector is currently undergoing major reforms, with a strong focus on boosting local pharmaceutical manufacturing. However, the country faces several challenges, including prolonged product approval timelines and limited technical capabilities for evaluating high-end drugs and new molecules. India, with its proven pharmaceutical manufacturing capacity, is seen as a valuable partner to help Vietnam address these gaps. Enhanced collaboration is expected to not only streamline drug approvals but also support faster product launches in the country.
India has also renewed its Memorandum of Understanding (MoU) with the Philippines Pharma Procurement Incorporation (PPPI), the nation’s largest government drug procurement agency. During the renewal, Pharmexcil director general Raja Bhanu discussed expanding bilateral cooperation, focusing on medicine supplies and mutual support in the procurement process.
This renewal signifies India's growing role as a trusted pharmaceutical partner in Southeast Asia, particularly for government-led drug procurement and supply chain stability.
In Malaysia, Pharmexcil is breaking new ground by identifying market opportunities specifically for oncology drugs. The country is reportedly facing medicine shortages, prompting local stakeholders to consider Indian suppliers as a reliable option to fill critical gaps.
During a recent visit, an Indian delegation conducted B2B meetings with 150 Malaysian companies. Notably, Pharmexcil also held an exclusive meeting with Dr. Azuana, director of the Malaysia Drug Control Authority- National Pharmaceutical Regulatory Agency (NPRA), Ministry of Health Malaysia. The discussions focused on aligning regulatory processes, addressing approval delays, and seeking fast-track clearances for Indian pharmaceutical products. Both sides agreed on the importance of regulatory collaboration for ensuring timely access to essential medicines.
Despite strong trade volumes, India currently has a trade deficit with ASEAN. In 2023–24, India exported goods worth USD 41.2 billion to the region while importing goods worth USD 80 billion.
To address these concerns, India and ASEAN are jointly reviewing the ASEAN-India Trade in Goods Agreement (AITIGA), originally signed in 2009. The review, expected to be substantially concluded by 2025, seeks to rebalance trade, reduce import dependency, and create more equitable terms for Indian exports, including pharmaceuticals.
India and ASEAN are also working on enhancing trade infrastructure and connectivity through initiatives like the India-ASEAN Connectivity Master Plan. The plan has the potential to boost trade by 20–30% in the medium term by improving logistics, streamlining trade routes, and integrating supply chains across the region.
“With regulatory cooperation, market exploration, and a shared focus on capacity building, India and ASEAN are poised to deepen their trade ties. The ongoing review of trade agreements and new MoUs signal a robust and mutually beneficial future for pharma trade between India and Southeast Asia,” according to a trade expert.
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