Pharmexcil partners with EU to host webinar on March 29 to raise awareness on business opportunities

Pharmexcil partners with EU to host webinar on March 29 to raise awareness on business opportunities

Mumbai, March 29, 2023:


The Pharmaceuticals Export Promotion Council of India (Pharmexcil), in collaboration with the Embassy of India in Belgium, Luxembourg and European Union (EU), will host a webinar on March 29, 2023, to raise awareness about emerging business opportunities in the EU region.

The purpose of the program is to sensitize and educate member companies about the prospects in the European market. The subjects that would be covered include a brief profile of Belgium and EU pharma market, latest updates on regulatory requirements of EU, business opportunities and challenges of operating the EU pharma market.

“The webinar is very relevant and significant as India accounts for 52% exports to Europe and the US and 55% to highly regulated markets,” informed Udaya Bhaskar, director general, Pharmexcil.

With exports of over USD 4 billion in FY22 and FY23 (April -January) the EU Region is currently the second-largest market with a share of almost 20% of India’s total exports. Moreover, Belgium has for the past few months overtaken the United Kingdom (UK) to be the second-largest market for overall exports and the largest market for Indian pharma exports in the EU region.

The number of sites registered in India with EU GMP (as on December 2021) is 284.

India is the largest exclusive generic exporter in the world. India’s exports of pharmaceuticals during April 2021 till March 2022 have been to the tune of USD 24.62 billion with a growth of almost 1%. India’s pharma exports contributed 5.92% of merchandise exports.

The Indo-Enhanced Cooperation and Trade Agreement (ECTA) which was recently signed between India and Australia is poised to help Indian pharma companies get regulatory approvals faster in Australia, seen as a market with one of the toughest clearance mechanisms.

Around 55% India’s exports are to highly regulated markets like North America and Europe. The USA is the largest exporting partner of India by country. Seven out of top 20 global generic companies are from India by 2020 values. Indian companies have bagged 33.48% of market authorizations granted by US FDA in the calendar year 2021. Pharmabiz