Raja Bhanu, the head of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), unveils plans to broaden export horizons in a conversation with Shardul Nautiyal. New avenues in Argentina are detailed, focusing on streamlined regulatory pathways and burgeoning market potentials. Bhanu also delves into initiatives planned for IPHEX 2024, trade prospects in the Dominican Republic, and inventive support measures like the WhatsApp assistance line. His discussions highlight a crucial phase for Indian pharma in its mission to enhance its international presence and tap into expanding global demand. Highlights
Pharmexcil has recently pinpointed new prospects for Indian pharmaceutical exports to Argentina. Can you share more on this development?
A breakthrough emerged from pivotal regulatory collaboration between India and Argentina, spearheaded by our Indian Ambassador to Argentina and Uruguay. During consultations with Argentina’s Minister of Health, Dr. Mario Russo, the gateway for Indian pharma products entering the Argentine market became more transparent. Key to this development is that Indian pharmaceutical goods, holding Good Manufacturing Practices (GMP) certification from approved health surveillance bodies, can penetrate the Argentine market without facing major hurdles.
How does this collaboration pave the way for Indian pharmaceutical expansion in Argentina?
This collaboration marks a strategic opening for Indian pharma entities to strengthen their presence in Argentina. With assurance from the Argentine Ministry of Health, products boasting GMP certification can register with Argentina’s National Administration of Drugs, Foods, and Medical Devices (ANMAT) via a simplified system. This efficiently designed process enables Indian companies to swiftly register and market their products in Argentina. Given India’s prominent pharma sector, and numerous firms already recognized by leading U.S. and European Union regulatory bodies, this represents a considerable growth prospect.
What actions should Indian pharmaceutical companies undertake to seize this opportunity?
We urge our member companies to act rapidly. They should initiate the registration of their products with ANMAT promptly, ensuring all necessary paperwork, including GMP certification proof from recognized countries, is in order. This proactive measure will facilitate seamless and substantial exports of Indian pharmaceuticals to Argentina. In case of challenges during this registration journey, our dedicated support system is available. Lakshmi Prasanna, our Senior Director at Pharmexcil, is ready to assist them at [email protected].
How does this development impact broader trade relations between India and Argentina?
This milestone serves as a catalyst in fortifying the trade relations between India and Argentina. Beyond boosting our pharmaceutical exports, it reinforces India’s status as a dependable partner in global healthcare. As Argentina seeks to fulfill its escalating need for high-quality medicines, Indian companies are ideally positioned to play a pivotal role. This cooperation unlocks new dimensions for Indian pharmaceutical entities in the Latin American market, a growing focal point of our global trade approach.
Pharmexcil has also initiated registration for IPHEX 2024. What should participants anticipate from this event?
IPHEX 2024 is set to be a landmark occasion for India’s pharmaceutical sector. Happening from August 28 to 30, 2024, this event provides the largest platform to unveil India’s diverse pharma capabilities to an international spectrum. Anticipated are over 450 exhibitors and more than 20,000 business visitors, including 400 invited global delegates. The event will be a nexus of innovation and industry insight, showcasing cutting-edge advancements across various sectors like formulations, biotechnology products, APIs, Ayush, nutraceuticals, medical devices, and more.
How does IPHEX 2024 support the growth of India’s pharma industry globally?
Beyond an exhibition, IPHEX 2024 is a testament to India’s rising influence on the international pharmaceutical stage. It offers a unique opportunity for engaging international stakeholders, presenting state-of-the-art innovations, and forming partnerships that will steer the future of global healthcare. Additionally, seminars and workshops on essential topics like regulatory compliance, international trade standards, and novel drug delivery systems will offer insights to keep our industry globally competitive.
Pharmexcil has recently handled a trade inquiry from the Dominican Republic. Can you elaborate on its importance?
Indeed, we have received a trade inquiry from Laboratorios Cubarbs SRL, a reputable pharmaceutical and cosmetics firm in the Dominican Republic seeking new Indian suppliers for an array of products. This inquiry signifies a valuable prospect for Indian firms to extend their market reach, potentially not just in the Dominican Republic but across the wider Caribbean and North American landscapes. We view this as a forward leap towards amplifying India’s global presence in the pharmaceutical sector.
How is Pharmexcil enhancing communication and support for its members?
Our commitment to improving communication and member support is ongoing. Recently, we launched dedicated WhatsApp numbers for member services, enabling real-time assistance. This channel facilitates swift resolution of issues, queries, or feedback, ensuring members remain well-informed and engaged with council activities. This aligns with our wider objective of streamlined interactions and timely support.
Looking ahead, how will Pharmexcil’s role evolve in international events like PHARMACONEX 2024 in Cairo?
PHARMACONEX 2024 is a major focus, particularly in our efforts to expand India’s pharmaceutical footprint globally. Our presence will be strong with the India Pavilion, strategically positioned for visibility. This event, scheduled from September 8 to 10, 2024, in Cairo, is among the eminent pharma congregations in North Africa and the Middle East. It offers Indian companies an exceptional forum to engage with global industry leaders, showcase offerings, and explore new business ventures in these crucial markets. We urge our members to exploit this chance to bolster their global standing and stimulate business growth.
What outlook do you hold for the future of India’s pharmaceutical industry?
The prospects for India’s pharma sector are incredibly bright. As we capitalize on these opportunities—through strategic alliances, international events such as IPHEX and PHARMACONEX, or fresh market forays like Argentina—we believe India will continue leading in pharmaceutical innovation and commerce globally. Our sector’s progress is driven by collaboration among industry, government, and academia, which collectively makes high-quality healthcare accessible to all. IPHEX 2024, in particular, represents a key moment, and I invite the world to join us in crafting the future of global healthcare.