Pharmaceutical Export Promotion Council (Pharmexcil) is an organization established by the Indian government to promote exports of pharmaceuticals, herbal products, and medical devices from India. The council was set up in the year 2004, under the aegis of the Ministry of Commerce and Industry, to enhance India’s exports of pharmaceutical products and to showcase the country’s strengths in the pharmaceutical sector to the global market. In this article, we will discuss in detail about the Pharmaceutical Export Promotion Council, its objectives, functions, and initiatives taken by the council to promote pharmaceutical exports from India.
Introduction to Pharmaceutical Export Promotion Council (Pharmexcil) #
Pharmexcil is a non-profit organization set up to promote exports of pharmaceutical products, herbal products, and medical devices from India. It is governed by a board of directors appointed by the Ministry of Commerce and Industry. The council has around 5,000 members, including manufacturers, exporters, and service providers in the pharmaceutical industry.
Objectives of Pharmaceutical Export Promotion Council (Pharmexcil) #
The primary objective of Pharmexcil is to promote and facilitate the export of pharmaceutical products, herbal products, and medical devices from India. The council aims to enhance India’s export competitiveness in the global pharmaceutical market by providing various support services to exporters, such as market intelligence, export promotion, and trade facilitation. Pharmexcil also works towards strengthening the domestic pharmaceutical industry by providing support to small and medium-sized enterprises (SMEs) in the sector.
Functions of Pharmaceutical Export Promotion Council (Pharmexcil) #
Pharmexcil undertakes various activities and initiatives to promote exports of pharmaceutical products from India. Some of the key functions of the council are:
- Export Promotion: Pharmexcil promotes exports of pharmaceutical products, herbal products, and medical devices from India by organizing trade fairs, exhibitions, and buyer-seller meets. The council also participates in various international events and trade shows to showcase Indian pharmaceutical products to the global market.
- Market Intelligence: Pharmexcil provides market intelligence and information to its members on the latest developments, trends, and regulatory changes in the global pharmaceutical market. The council also conducts market research studies to identify new markets and opportunities for Indian pharmaceutical exporters.
- Trade Facilitation: Pharmexcil provides various trade facilitation services to its members, such as assistance in obtaining export licenses, import-export code numbers, and other regulatory approvals. The council also provides guidance and support to its members in resolving trade-related issues and disputes.
- Quality Control: Pharmexcil promotes and ensures the quality of Indian pharmaceutical products through its quality control program. The council has established a quality control laboratory to test and certify the quality of pharmaceutical products manufactured in India. The council also provides training and certification programs to enhance the skills and knowledge of quality control professionals in the industry.
Initiatives taken by Pharmaceutical Export Promotion Council (Pharmexcil) #
Pharmexcil has taken various initiatives to promote exports of pharmaceutical products from India. Some of the key initiatives taken by the council are:
- International Trade Fairs and Exhibitions: Pharmexcil organizes and participates in various international trade fairs and exhibitions to showcase Indian pharmaceutical products to the global market. The council also organizes buyer-seller meets and trade delegations to promote business partnerships and collaborations between Indian and foreign companies.
- Market Development Assistance Scheme (MDA): Pharmexcil provides financial assistance to its members under the Market Development Assistance (MDA) scheme to participate in international trade fairs and exhibitions. The MDA scheme aims to promote exports of pharmaceutical products from India by providing financial support to SMEs in the industry.
- International Regulatory Affairs: Pharmexcil provides guidance and support to its members in complying with international regulatory requirements for pharmaceutical products. The council has established a regulatory affairs cell to provide information and assistance to its members on various regulatory issues, such as registration requirements, labeling, and packaging regulations.
- Promotion of Herbal Products: Pharmexcil has also taken initiatives to promote exports of herbal products from India. The council has set up a separate division for herbal products and has undertaken various activities to promote the export of herbal products, such as organizing exhibitions and trade fairs, providing market intelligence, and conducting training programs.
- Skill Development: Pharmexcil has also taken initiatives to enhance the skills and knowledge of professionals in the pharmaceutical industry. The council has established a skill development program to provide training and certification programs to pharmaceutical professionals in areas such as quality control, regulatory affairs, and research and development.
Impact of Pharmaceutical Export Promotion Council (Pharmexcil) #
Pharmexcil has played a crucial role in promoting exports of pharmaceutical products from India. The council has helped to enhance India’s export competitiveness in the global pharmaceutical market and has facilitated the growth of the domestic pharmaceutical industry. Some of the key impacts of Pharmexcil are:
- Increase in Exports: Pharmexcil has played a significant role in increasing exports of pharmaceutical products from India. The council’s initiatives and support services have helped Indian pharmaceutical exporters to enter new markets and to expand their exports to existing markets.
- Growth of SMEs: Pharmexcil has also supported the growth of SMEs in the pharmaceutical industry by providing various support services and financial assistance under the MDA scheme. The council’s initiatives have helped SMEs to enhance their export competitiveness and to expand their business globally.
- Strengthening of Quality Control: Pharmexcil’s quality control program has helped to strengthen the quality of Indian pharmaceutical products and to enhance the reputation of the Indian pharmaceutical industry in the global market.
Conclusion #
Pharmaceutical Export Promotion Council (Pharmexcil) is an important organization established by the Indian government to promote exports of pharmaceutical products, herbal products, and medical devices from India. The council’s initiatives and support services have helped Indian pharmaceutical exporters to enhance their export competitiveness and to expand their business globally. Pharmexcil’s role in promoting exports of pharmaceutical products from India is crucial, and the council is expected to continue playing a significant role in the growth of the Indian pharmaceutical industry in the future.