Welcome Guest | |
Submit Your Sourcing Requirement
Advanced Search Filtersdown arrow
left border  
NEWS
left border  
Last Updated:[24-03-2011 05:27:53 EDT] Zoom in Zoom out Back to Tradenews

India keen to export pharma products to China



tradenews If the Chinese government cleared hurdles to provide market access, India could start exporting its pharmaceuticals to China in a big way. India made a strong pitch to push it, asserting that a good opening exists for its $21 billion strong pharma industry to make forays into China.

S Jaishankar Indian Ambassador to China, along with the an Indian pharma delegation, headed by the president, Indian Drug Manufacturers Association, N R Munjal, met State Food and Drug Administration and Chinese Ministry of Commerce officials on Wednesday said the delegation tried to impress upon Chinese officials that while the Chinese companies trading in Active Pharmaceutical Ingredients (API) were getting clearances in about a year, it is taking three to five years for an Indian companies to clearances in China to register Pharma products. It is also time consuming as most formalities have to be completed in Chinese language, besides the extended timeline in registering the products that were turning out to be major hurdles, he said.

Jaishankar quoted that even though Indian companies boasts of US Food and Drug Administration approved facilities and are exporting to 170 countries, last year’s China's API exports to India having touched $3.3 billion while Indian drugs struggled to post $500 million worth of exports to China. With the bilateral trade tilted heavily in favour of China with its exports crossing over $60 billion last year, it would be difficult to continue sustaining bilateral trade on the basis of current trends, he said. There is an urgent need to change the trade basket and introduce elements where India has proven competence.

"We tried to make out a case that like India making use of Chinese machinery to expand its infrastructure, China, too, should take advantage of well placed Indian pharmaceutical industry which can help to make the basic drugs available for far cheaper prices benefiting the Chinese public," Jaishankar told PTI after meeting the officials.

India is pushing for market access based on the assurances by Chinese Prime Minister Wen Jiabao, to address the trade imbalance, he said, adding an Indian pharma delegation is visiting China for the first time to closely interact with their Chinese counterparts. He said during today's interaction, Chinese officials had proposed to a nodal body comprising of SFDA officials and Chief Controller of Drugs of India to interact on the market access issues, which will be seriously considered.

Munjal requested Chinese officials to remove trade barriers for Indian Pharma companies and to create an India desk for speedier clearance of Indian drug products and frequent visits by regulators of both countries. Munjal and his fellow delegates also interacted with Ni Rulin, president of China Chamber of Commerce for Import & Export of Medicines & Health Products yesterday, besides SFDA.

Officials of the Chinese Pharmaceutical Industry also took part in the meeting, arranged by the Indian Embassy as part of efforts to expand of scope of Indian exports.

India has identified IT, pharmaceuticals, agriculture products and engineering goods as some of the main areas after a detailed study to step up exports to China. India is organising campaigns all over China to create awareness about the potential for exports in all the four areas, added K Nagaraj Naidu, First Secretary of the Indian Embassy.

Source - India Biz News




What do you feel about this Trade News?
Feel free to write COMMENTS
*Name:
*Your Email Address:
 Website
*Your Message:
Please refresh the screen if you
can't read the following text
Captcha
*Enter above security code : 
 

Delicious.com Digg.com Facebook.com Google.com/bookmarks Yahoo! Bookmarks reddit.com



 
 
PREVIOUS