The contribution of Indian pharmaceutical exports to the total commodities exported to Pakistan was about 9.36 per cent in the 2003-04, which increased to 10.98 per cent during 2004-05. This upward trend in exports will continue in the coming years, according to Pharmexcil.
Dr PV Appaji, executive director of the Pharmaceutical Export Promotion Council (Pharmexcil) told Pharmabiz that the pharmaceutical market in Pakistan is opening up. Good interactions are happening between India and Pakistan at both manufacturer and trader levels.
Import of pharmaceuticals by Pakistan from India accounts to over 15 per cent of its total pharmaceutical imports from across the world. Currently, majority of pharmaceutical imports by Pakistan is from China.
Formulations sector is growing gradually in Pakistan. The country is allowing import of selective formulations, with restrictions on import of certain formulations from across the world including India. Vaccines and some specialty products are allowed for imports. Though there is no restriction on import of bulk drugs, some bulk drugs attract counter-veiling duty, to meet domestic interests. Industry sources said Indian drugs most commonly attract such duty.
The Council has been receiving enquiries from Pakistan and the same were passed on to its members. There is considerable scope for Indian pharma exports to Pakistan in the coming years. Bulk drug companies in India look at Pakistan as a potential market, he said.
Pharmexcil is planning to lead a business delegation to Pakistan to explore trade opportunities in 2006-07 with its own funds, as there is no MDA support available as Pakistan doesn't fall under the focus countries, Dr Appaji said.
Mentioning the success achieved by the Council in establishing and improving industry and trade relations with countries such as Chile, Georgia, Ghana, Khazakstan, Mauritius, Nigeria, Philippines, Russia, Uzbekistan and Vietnam, Dr Appaji said, India will establish similar tie-ups with Pakistan and create a better environment for pharmaceutical exports.