How to Export Medicines from India to Other Countries – It is 2022 and the business of exporting medicines is at its peak in India. According to volume, the Indian pharmaceuticals sector is the 3rd largest, and in terms of value, it is the 13th largest sector across the globe. The Indian pharmaceutical sector has carved out a niche as a global industrial & research center and by the end of 2025, the Indian pharmaceutical sector is estimated to develop at a CAGR of 22.4 percent, reaching a value of US 55 billion dollars. So, if you want to know How to Export Medicines from India to Other Countries, then consider reading this blog till the end.
The pharmaceutical market in India is highly dominated by generic medications. These medications generally account for approximately 70% of the market, while patented and generic drugs account for 9% and 21%, respectively. When compared to other countries around the world such as Europe or the United States, manufacturing drugs in India is comparatively less expensive. To give you in details insights, in this article, we’ll look at the steps involved in exporting medicine from India to other countries. So, don’t go anywhere and do read this blog till the end to find out How to Export Medicines from India to Other Countries.
The wait for the people looking to grab insights on the steps involved in exporting medicine from India to other countries ends here. Here in this section of the blog, we will tell you the exact steps that are involved in the export of medicines from India:
Step 1: The first step is to create a company or firm to manufacture or market pharmaceutical items.
Step 2: Up next, you need to obtain the IEC number, often known as the Import Export Code number.
Step 3: Now, if you want to export, you’ll need to appoint distributors or agents, or you’ll need to open an office in the country.
Step 4: Once done, get the agency or distributor to sign off on the details and terms and conditions.
Step 5: Up next, you have to get your product registered in the nation from which it will be exported.
Step 6: Now, get DCGI approval for export.
Step 7: Once done with this, decide the terms of delivery, formulate the delivery method and payment method.
Step 8: Start receiving the purchase orders.
Step 9: Make sure to deliver a pro-forma invoice that should contain information like the rate, freight details, packaging type, and much more.
Step 10: Up next, make a commercial invoice in accordance with a letter of credit or a purchase order.
Step 11: At this point, you need to sign a deal with a freight forwarding company to have the materials shipped to the appropriate country.
Step 12: Get clearance from the customers and for this, you need to send products to customs clearance.
Step 13: You will be allowed to dispatch material after getting clearance.
Step 14: Also, keep in mind that you need to get customs clearance from the importing country as well.
So that now we have discussed How to Export Medicines from India to Other Countries, let us get some insights about the process to get the Import Export Code a.k.a IEC to go export medicines in India:
Step 1: To get the IEC, the applicant needs to navigate to the official website of DGFT’s and click on the option ‘Online Application’. Once done, from the drop-down menu, choose the ‘IEC’ option.
Step 2: To continue, select the ‘Online IEC Application’ option.
Step 3: Now, use your PAN to log in to the system and select ‘Next.’
Step 4: Once done, move to the ‘File’ tab and select the ‘New IEC Application Details’ button.
Step 5: A new window with the application form will open. Complete the application to proceed further.
Step 6: Check the detailed filled and click on the option ‘Upload Documents’.
Step 7: Here, as an applicant, make sure to upload all necessary supporting papers and choose the option ‘Branch’ to add more information.
Step 8: Now, as an applicant, you have to click on the ‘EFT’ button. Complete the IEC application process by making the payment of INR 250 online. This is a requisite processing fee. Further, the applicant needs to deliver the hard copy of their application, along with the relevant supporting documentation to the DGFT’s office within 15 days of filing an online application.
So, this is How to Export Medicines from India to Other Countries. We hope now you also knew about the process to export medicines from India to other countries. If you are searching for the best PCD Pharma Company in India, then choose Apikos Pharma. We are one of the leading names that deliver a wide range of top-class pharma products at genuine prices.