The Pharmaceuticals Promotion Council of India (Pharmaexcil) is seeking inputs relating to exports of high-tech products from pharma and biotechnology companies for securing export incentives of the same from the government.
As Director General of Foreign Trade (DGFT) is in the process of reviewing the list of high-tech products for the purpose of incentivizing exports, the Council has asked all the pharma products manufacturers, biotechnology and medical equipment manufacturers, other related high-tech equipment exporters to send the list of such products to the council, so that the same will be submitted to
DGFT for availing export incentives from the government.
“We request all the high-tech product manufactures of pharma and biotechnology industry to check if their product is included in the list prepared by DGFT and send any info of all exported high-tech product that may have left out of the list for availing the incentives,” informed Raghuveer Kini, executive director, Pharmexcil.
According to Export Trade Policy of India 2009-2014, government of India provides an incentive of 2 per cent on the FOB value for all products included in the high-tech product list meant for exports prepared by DGFT. At present DGFT has prepared a list of 159 high-tech products being exported from India eligible for 2 per cent incentives.
Some of the high-tech products among medical equipments include hearing aids, pacemakers for stimulating heart muscles, radiotherapy, medical, surgical, dental, veterinary use including spectrometers etc. Other high-tech equipments relating to pharma industry include products for streptokinase, for cholera and typhoid, for hepatitis, for tetanus for polio for Tuberculoses etc. The complete list of the products is available in the DGFT website http://dgft.gov.in/Exim/2000/PN/PN13/pn1913.htm.
Interested members who wish to include their products in the list of high-tech export products should send in prescribed format with along with serial number
HS Code, product description. Candidates should also send in brief a compulsory note justifying the grounds on which the product can be considered as high-tech’. The deadline for sending such information to the council’s office is 31st December 2013.
Source : pharmabiz.com