In a strategic move to boost India’s global pharmaceutical presence by tackling export-related challenges, the Pharmaceuticals Export Promotion Council of India (Pharmexcil) has extended an invitation to its members to point out obstacles and suggest inventive growth strategies.
Underlining the significance of teamwork, Pharmexcil’s director general, K Raja Bhanu, emphasized the collective endeavor necessary to overcome export hurdles and maintain the momentum of India’s pharmaceutical industry.
“Our pharmaceutical exports are fundamental to our international standing. For continued growth and the harnessing of new opportunities, it is essential to confront current issues directly. By offering insights on tariff and non-tariff impediments and proposing forward-looking strategies, we can forge a robust and innovative route for our sector,” Bhanu stated.
Pharmexcil has introduced a dedicated “Issues & Strategies” section on its official site, designed to gather insights from members. This initiative will address a wide range of challenges, such as customs tariffs, product registration issues, banking obstacles, and adherence to global trade agreements.
Pharmaceutical exporters are encouraged to share specific difficulties impacting exports to various nations, particularly relating to tariff and non-tariff restrictions.
Stakeholders are invited to propose actionable and sustainable solutions to stimulate innovation, manage trade complexities, and broaden market access. The collated feedback from various contributors will form the basis of submissions to relevant authorities and policymakers.
Pharmexcil is committed to ensuring that these contributions significantly influence policy-making and the resolution of trade obstacles, thus securing the ongoing success of India’s pharmaceutical exports internationally.
“To provide feedback, visit the ‘Issues & Strategies’ page on the Pharmexcil site or reach out to Prasanth K, the joint director, at [email protected]. Together, let’s empower India’s pharmaceutical sector to tackle challenges and explore new avenues for global expansion,” Bhanu concluded.