How to export medicines from India to other countries

Pharmaceutical Medicines Exports From India

The Indian pharmaceuticals industry is the third-largest in terms of volume and thirteenth-largest in terms of value. It has established itself as a global manufacturing and research hub. The Indian pharmaceutical industry is expected to grow at a compound annual growth rate (CAGR) of 22.4 percent to touch US 55 billion dollars by 2020.

The Indian Pharmaceutical market is dominated by generic drugs which constitute nearly 70 percent of the market, whereas Over the Counter medicines and patented drugs make up to twenty-one percent and nine percent respectively.


Procedure To Export Medicines From India

If you are a registered pharmaceutical company in India then there is an easy process to export medicines from India.

How to Apply for IEC to Export Medicines from India

Procedure to apply for IEC Number

Step 1: Go to the official website of Directorate General of Foreign Trade

Step 2: Click on the ‘Online Application’ tab and select the ‘IEC’ from the drop-down menu.
Step 3: Then choose ‘Online IEC Application’
Step 4: Enter your PAN number to log in and click on Next button.
Step 5: Go to File and choose ‘New IEC Application details’
Step 6: Then a form will appear. Fill all the details in the form and click on ‘Upload Documents’
Step 7: Upload the required documents.
Step 8: After uploading the documents and filling the form, click on the ‘Branch’ button to add any branch details.
Step 9: Then click on ‘Director’ to add the details of the directors.
Step 10: Then click on ‘EFT’ to make an online payment.
Step 11: Fill the amount details, which is Rs. 250 and choose your bank to make a transaction.
Step 12: Then a draft invoice will appear. Check all the filled details and click on ‘Pay now’ button.
Step 13: Make the payment by using your internet banking details.

Mandatory Requirements to apply for IEC Number

  1. PAN Number
  2. Current Bank Account
  3. Bankers Certificate
  4. IEC Code Number Application Fee
  5. The hard copy of application containing required documents should reach DGFT RLA concerned within 15 days of its online submission.

China also showing interest in importing medicines from India