FPME seeks govt’s help to make drug exporters globally competitiveThursday May 26, 2022 at 4:53 pm
The Federation of Pharmaceutical and Allied Products Merchant Exporters (FPME) has sought the union government of India’s assistance to make Indian drug exporters globally competitive.
Speaking at the Federation of Pharmaceutical and Allied Products Merchant Exporters (FPME) ‘s annual day celebration in Mumbai, its secretary, Mr. Sandeep Modi, said, “Drug exporters have faced several challenges due to the Covid-19 pandemic. One of these challenges is the increase in Export Credit Guarantee Corporation of India (ECGC) charges.”
Export Credit Guarantee Corporation of India (ECGC) is a government of India enterprise that provides export credit insurance to various exporters. It has increased its current insurance premium amid a rise in claims due to the devastating disruption caused by the recent Covid-19 pandemic.
“We need to focus on other challenges as well. If we get proper help, we can be well placed in the global pharma market. There is a problem with ECGC charges; something should be done about it,” he warned.
Mr. Sandeep Modi further observed, “Every member has been supportive over the last two years. There were many challenges in the last two years, like providing medicines and masks to everyone. There were also many restrictions during Covid-19. Members tried their best to help. Exports didn’t stop during the pandemic; we got help from government officials. Many wholesalers and retailers were placed under the MSME category. We, as an association, are expanding. We had camped with custom officers during the lockdown and held several webinars on GST refunds and related topics during the lockdown.”
Modi also added, “We are a growing association; we need a good presence in Delhi to put forward our points to policymakers.”
Echoing his view, Federation of Pharmaceutical and Allied Products Merchant Exporters (FPME) president Kamlesh Shah added, “There are more than 200 members, and every member has worked hard during Covid. We expect members to take the association forward.”
Dr. Virachi Shah, the president of the Indian Drug Manufacturers’ Association (IDMA) and the director of Saga Laboratories, was the chief guest at the event organized by the Federation of Pharmaceutical and Allied Products Merchant Exporters (FPME) and added, “If the industry grows, everyone grows. We are working towards the betterment of the industry, and we are working closely with the government on new drafts and policies. We have a target of reaching US$ 130 billion by 2030.”
Dr. Shah has also called on the industry to work towards giving some additional benefits to patients that will help them as well.
He noted, “Using good diplomatic relations we have with many countries; we work for better WHO GMP compliance. We are also working with the commerce ministry to resolve many issues the industry faces. As IDMA, we are raising issues of pharma companies with state and central governments.”
The vice-chairman of the Pharmaceuticals Export Promotion Council of India (Pharmexcil) and the CMD of Fourrts (India) Laboratories, Mr. S V Veeramani, commented, “Pharma exports are witnessing 8-10 percent annual growth. India’s pharma industry is the fifth largest exporter. The government is keen to resolve issues faced by the pharma industry.”
The Union commerce ministry of India is in talks with Canada and other countries to facilitate the export of various pharma products. The future is bright for the Indian pharma industry. Merchant exporters also have a significant role to play in the pharma industry. We should also focus more on market research and survey, he added.
He added that Africa has tremendous scope for the pharma industry after the United States (US) and Europe.