India Makes Strong Pitch For Pharma Exports to China.

BEIJING: India made a strong pitch to push exports of its pharmaceuticals to China in a big way asserting that a good opening exists for its USD 21 billion strong pharma industry to make forays into China, if Chinese government cleared hurdles to provide market access.

Indian Ambassador to China, S Jaishankar along with the an Indian pharma delegation, headed by N R Munjal, President, Indian Drug Manufacturers Association, met officials of State Food and Drug Administration (SFDA) and Chinese Ministry of Commerce today and urged them to take steps for faster clearance of licences for Indian products.

Jaishankar said the delegation tried to impress upon Chinese officials that while the Chinese companies trading in Active Pharmaceutical Ingredients (API) were getting clearances in about an year, it is taking three to five years for an Indian companies to clearances in China.

China's API exports to India touched USD 3.3 billion last year, while Indian drugs struggled to post USD 500 million worth of exports to China, even though Indian companies boasts of USFDA approved facilities, exporting to 170 countries, Jaishankar said.

"We tried to make out a case that like India making use of Chinese machinery to expand its infrastructure, China, too, should take advantage of well placed Indian pharmaceutical industry which can help to make the basic drugs available for far cheaper prices benefiting the Chinese public," Jaishankar told PTI after meeting the officials.

He said though bilateral trade crossed USD 60 billion last year, it tilted heavily in favour of China with its exports crossing over USD 40 billion.

It would be difficult to continue sustaining bilateral trade on the basis of current trends, he said.

It would be even more difficult if, as expected, some of India's current major exports actually started to decline, he said, pointing to the decline Indian raw material exports like iron ore and cotton.

"There is an urgent need to change the trade basket and introduce elements where India has proven competence.

Pharmaceuticals readily fit the bill, he said adding for its part India is organising campaigns to create awareness of Indian products IT and Pharmaceuticals.

India is pushing for market access based on the assurances by Chinese Prime Minister Wen Jiabao, to address the trade imbalance, he said, adding an Indian pharma delegation is visiting China for the first time to closely interact with their Chinese counterparts.

He said during today's interaction, Chinese officials had proposed to a nodal body comprising of SFDA officials and Chief Controller of Drugs of India to interact on the market access issues, which will be seriously considered.

Source : economictimes.indiatimes.com