{"id":28345,"date":"2021-03-31T11:48:32","date_gmt":"2021-03-31T06:18:32","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=28345"},"modified":"2021-03-31T11:48:57","modified_gmt":"2021-03-31T06:18:57","slug":"how-to-export-medicine-globally-from-india","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/how-to-export-medicine-globally-from-india\/","title":{"rendered":"How to Export Medicine Globally from India?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The Indian Pharmaceutical\nSector is one of the significant growth stimuli for the Indian Economy. The\npharmaceuticals industry is the 3rd largest in terms of volume &amp; 13th\nlargest in terms of value. It has now become the center stage for the\nmanufacturing &amp; research hub.<\/p>\n\n\n\n<p>The Indian Pharmaceutical\nMarket is ruled by generic drugs comprising nearly 70% of the market, whereas\nthe patented and generic drugs make up 9% &amp; 21%, respectively. Manufacturing\ndrug in India is cheaper as compared to other nations such as Europe and the\nUSA. In this write-up, we will look into the detailed procedure on how to\nexport medicine worldwide from India.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/how-to-export-medicine-globally-from-india\/#Overview_of_Pharmaceutical_Exports_in_Recent_Years\" >Overview of Pharmaceutical Exports in Recent Years&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/how-to-export-medicine-globally-from-india\/#Procedure_to_be_Followed_to_Export_Medicine_from_India\" >Procedure to be Followed to Export Medicine from India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/how-to-export-medicine-globally-from-india\/#How_to_Apply_For_IEC_to_Export_Medicines_from_India\" >How to Apply For IEC to Export Medicines\nfrom India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/how-to-export-medicine-globally-from-india\/#List_of_Particulars_Required_to_Avail_IEC\" >List of Particulars Required to Avail\nIEC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/how-to-export-medicine-globally-from-india\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Overview_of_Pharmaceutical_Exports_in_Recent_Years\"><\/span>Overview of Pharmaceutical Exports in Recent Years&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Pharmaceuticals export from India was accounted for US$\n20.70 billion in 2019-20.<\/li><li>The pharmaceutical sector witnessed a growth of 12.43% to\nUSD 17.57 billion in terms of export during April-December 2020-21.&nbsp;<\/li><li>Indian is one the prominent supplier of generic&nbsp;globally&nbsp;(20\nto 22% of the global export volume.<\/li><li>The drug export during April 2020 to November 2020 was\naccounted for US$ 15.87 billion. Meanwhile, for the month of November 2020, it\nwas stood at US$ 1.99 billion.<\/li><li>Indian export figure for the Bulk Drugs &amp; Drug\nintermediates in FY 20 stood at US$ 3.89 billion.&nbsp;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Procedure_to_be_Followed_to_Export_Medicine_from_India\"><\/span>Procedure to be Followed to Export Medicine from India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\n\nIf you have a registered drug company in India, there is a simple process to export medicine from India.&nbsp;\n\n<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/Procedure-to-be-Followed-to-Export-Medicine-from-India.png\" alt=\"Procedure to Export Medicine from India\" class=\"wp-image-28382\" width=\"472\" height=\"865\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/Procedure-to-be-Followed-to-Export-Medicine-from-India.png 491w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/Procedure-to-be-Followed-to-Export-Medicine-from-India-164x300.png 164w\" sizes=\"(max-width: 472px) 100vw, 472px\" \/><\/figure><\/div>\n\n\n\n<ol><li>The first step is to\navail the <strong><em>IEC (Import Export Code*)<\/em><\/strong> number from <strong>DGFT<\/strong>.&nbsp;<\/li><li>Locate the prospective\nbuyers in other nations who are keen to import medicine from India.<\/li><li>Register your product in\nthe importing nation.&nbsp;<\/li><li>Get the approval\ncertificate from <strong><em>DCGI (Drug Controller General of India)<\/em><\/strong> to export medicine to\nother nations.&nbsp;<\/li><li>Choose the appropriate\nshipping method or select the exporter, trader, and suppliers of medicinal\nproducts.&nbsp;<\/li><li>Obtain the&nbsp;<strong><em>Purchase\norder*<\/em><\/strong>&nbsp;from the importer and send a&nbsp;<strong><em>proforma invoice*<\/em><\/strong>&nbsp;with\ndetail like rate of drug, type of packing, freight details, etc.<\/li><li>Prepare commercial invoice\nagainst the Purchase Order.<\/li><li>Sign an agreement with\nthe freight forwarding agency to dispatch the shipment to the respective\nnation.<\/li><li>After completing the\ndocument work get the customs clearance. For this, appoint an agent who can\nclear the shipment by fulfilling all the custom&#8217;s requirements.&nbsp;<\/li><li>After obtaining\nclearance, the shipment will be routed to the importing nation.<\/li><li>Customs clearance is also necessary for the importing\ncountry&nbsp;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">What is Import Export Code*?<\/h3>\n\n\n\n<p>Import\nExport Code (IEC) is a 10-digit number that works as an identification code for\nthe individual engaged with the foreign trade. It is issued by the Director\nGeneral of Foreign Trade (aka DGFT), Department of Commerce, and Government of India.\n<\/p>\n\n\n\n<p><a href=\"https:\/\/corpbiz.io\/iec-registration\"><strong>IEC registration<\/strong><\/a> is mandatory for conducting cross-border transactions of goods. In the absence of the Import Export Code, nobody has the right to export or import the shipment of goods.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is the Proforma Invoice*?&nbsp;<\/h3>\n\n\n\n<p>Proforma\ninvoice refers to a document that encloses information regarding the goods\nand\/or services yet to be delivered to the importer\/buyer. It also manifests\nestimated prices of the product in the shipment.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is the Purchase Order*?<\/h3>\n\n\n\n<p>A\npurchase order, aka PO, is a document issued by the importer committing to pay\nthe seller for the sale of products or services to be dispatched in the future.\nEach Purchase order has a unique number that helps both importer and seller\ntrack delivery and payment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Apply_For_IEC_to_Export_Medicines_from_India\"><\/span>How to Apply For IEC to Export Medicines\nfrom India?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Procedure\nfor obtaining IEC Number from DGFT to export medicine from India&nbsp;<\/p>\n\n\n\n<ul><li>Visit the official portal of the Directorate General of\nForeign Trade (DGFT).&nbsp;<\/li><li>Explore the \u2018Online Application\u2019 option on the home page and\nselect \u2018IEC\u2019 via the drop-down menu.<\/li><li>Next, select the \u2018Online IEC Application.\u2019<\/li><li>Provide your PAN detail for verification so that you can log\nin.&nbsp;&nbsp;<\/li><li>After login, select \u2018New IEC Application details.\u2019<\/li><li>A form will be prompted on the screen. Fill in all the\nrelevant information in the form and select the option \u2018Upload Documents.\u2019<\/li><li>Next, upload the requested documents.&nbsp;<\/li><li>After this, select the \u2018Branch\u2019 option to add any branch\ndetails.<\/li><li>Next, opt for the \u2018Director\u2019 option to add the director\u2019s\ndetails.&nbsp;<\/li><li>Select \u2018EFT\u2019 for the online fee submission.&nbsp;<\/li><li>Fill in the required amount and select the bank to make the\ntransaction.&nbsp;<\/li><li>A draft invoice shall prompt on your screen. Make sure all\ndetails that you furnished before are legit.&nbsp;<\/li><li>Proceed to the \u201cPay now\u201d option for making an online\npayment.&nbsp;<\/li><li>Complete the payment formalities via your internet banking\ndetails.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"List_of_Particulars_Required_to_Avail_IEC\"><\/span>List of Particulars Required to Avail\nIEC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>PAN Number<\/li><li>Bankers Certificate<\/li><li>Current Bank Account<\/li><li>IEC Code Number Application Fee<\/li><\/ul>\n\n\n\n<p>The\nhard copy of the application and requested documents must reach DGFT office within\n15 days of its online submission.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Shipping\nmedicinal products outside India is subjected to plenty of legal implications\nthat one must fulfill without exception. After availing of the permissions\nabove and licenses from the respective authority, you will become eligible to\nexport medicine to overseas countries. This way you can expand your business\nfootprint and access the new market. <\/p>\n\n\n\n<p>One of the biggest obstacles in exporting medicine is obtaining an approval certificate from the <strong>DCGI (Drug Controller General of India<\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Drugs_Controller_General_of_India\"><strong>[1]<\/strong><\/a><\/sup><strong>)<\/strong>. One has to fulfill a long list of requirements for availing such a certificate. In case if you find it hard to do so, let our professional help you out.&nbsp;<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/how-import-license-and-iec-certification-differs-from-each-others\/\">\nHow Import License and IEC Certification Differs From Each Others?\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indian Pharmaceutical Sector is one of the significant growth stimuli for the Indian Economy. The pharmaceuticals industry is the 3rd largest in terms of volume &amp; 13th largest in terms of value. It has now become the center stage for the manufacturing &amp; research hub. The Indian Pharmaceutical Market is ruled by generic drugs [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":28380,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[165],"tags":[1636],"acf":{"service_id":"16"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":13103,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/28345"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=28345"}],"version-history":[{"count":16,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/28345\/revisions"}],"predecessor-version":[{"id":28384,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/28345\/revisions\/28384"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/28380"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=28345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=28345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=28345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}