Updated on 2 November 2012
Does Pharmexcil get involved in resolving issues related to foreign trade?
Yes. We deal with problems sometimes associated with foreign trade. Our aim is to protect the image of the country. Whenever there is a shipment problem, or any legal problem from either the exporters' side or the importers' side at the initial stage, we try to understand, verify and advice the companies involved. I can't interfere apart from providing suggestions to the companies. Beyond that it is their problem. There are times when the problem is resolved at this first stage of streamlining. Small-sized companies come to us for help and we help them as per our limit.
Who are the major importers of Indian drugs in Asia Pacific and abroad?
As per our latest records, Vietnam is the biggest importer followed by Philippines and Myanmar. Our goods are also exported to Australia despite the highly regulated market in that country and the market in New Zealand is picking up.
However, there is a fact that is not known to many. As per the figures in 2011, more than 55 percent of our Rs 63,000 crore exports came from the US and Europe. The US alone had 25 percent share in that Rs 63,000 crore. The US is by far the fastest growing market for us. We are trying to highlight the fact that India is not only concentrating on emerging markets. We have penetrated the markets in the West and we have a ready market available there. We have the production capacity and quality is not a problem, and hence we enjoy market there.
But there are concerns that Indian goods are not up to the standards?
I disagree. People say that Indian generics are below-standard. But wherever we go, we say one thing. Counterfeit is because of two things: Generic versions of a drug selling in the country even when the patent has not expired and quality. In case of patent related issues, India does not permit the drug if it is not permitted in the imported country.
So that issue is resolved. As far as poor quality is concerned, we are so sure that our quality is of high standard that we tell the clients to get the drug tested from over 30 certified drug testing labs on their own and if they still don't trust the results from these labs, they can come to us and we can get back to them within a month.