How to Export Medicines from India to Other Countries

How to Export Medicines from India to other Countries – Indian Pharmaceutical Sector has contributed heavily to supplying top quality medicines all around the world. The business of exporting medicines from India to other countries is booming at an accelerated pace. The value of India’s generic drug exports has increased with a compound annual growth rate of 22.4%. If you want to have a comprehensive understanding of How to Export Medicines from India to Other Countries, then be sure to gather all the crucial information mentioned in this write-up.

How to Export Medicines from India to Other Countries

The Export of Medicines has never been this easy before. India is the world’s top exporter of generic medications, with about 24.44 billion dollars worth of pharmaceuticals exported in February of the fiscal year 2021. The Indian Pharmaceutical Industry now produces bulk pharmaceuticals for all major therapeutic segments which necessitate the use of complex production processes. However, if you want to get deep insight into How to Export Medicines from India to Other Countries without any legal hassles, then continue reading this blog till the end without an omission.

Steps Involved in Exporting Medicines from India to other Countries

To have in-depth information about How to Export Medicines from India to Other Countries, be sure to have an ultraprecise check on the steps that we have discussed below:

  1. The first and foremost step is to build a company in order to manufacture or market pharmaceutical medicines.
  2. Apply for an IEC (Import Export Code) from the Director-General of Foreign Trade (DGFT). It is mandatory because only registered pharmaceutical companies can export medicines from India as per the Foreign Trade Policy.
  3. In order to export medicines, you will need to appoint distributors or agents, or you’ll need to open an office in the country.
  4. Make contact with the exporters of other countries to see if they are interested in importing the drugs.
  5. In order to export medicines, you will need to appoint distributors or agents, or you’ll need to open an office in the country.
  6. Acquire an approval certificate from the DCGI (Drug Controller General of India) to export drugs to other countries. These are necessary approvals since pharmaceuticals and medicines are serious goods that can have an impact on a consumer’s entire well-being and health.
  7. Choose an accurate delivery method or a pharmaceutical product exporter, merchant, and supplier of medicinal products.
  8. After doing so, decide on the delivery terms, the delivery method, and the payment type.
  9. Receive the Purchase Order from the company importing the pharmaceuticals from India and deliver a proforma invoice with product specifications such as type of packaging, product rate, shipment information, and so on.
  10. Furthermore, make a commercial invoice using the Letter of Credit or Purchase Order as a reference.
  11. Sign a contract with the freight forwarding agency to have the products shipped to the respective country.
  12. After you are done with all of the paperwork, you will need to go through customs clearance. You can accomplish this with the help of an agent to save your time, or you can also do it by yourself.
  13. Once they have received clearance, the pharmaceutical products will be exported to the importing country.
  14. One last thing that you need to take into account is to get customs clearance from the importing country at the same time.

Complete Procedure of Applying for Import Export Code (IEC) to Export Medicines

Now that you have obtained an ultraprecise idea of How to Export Medicines from India to Other countries, you must be aware of the fact that there is a mandatory need of applying for an Import Export Code (IEC) to do the same. There are certain steps that are required to be followed in order to apply for an IEC. Let us dig into the procedure of applying for the Import Export Code to Export Medicines:

  1. To apply for an Import Export Code, the first thing you need to do is to visit the official website of the Directorate General of Foreign Trade (DGFT).
  2. Click on the Online Application tab and select the IEC from the drop-down menu.
  3. To log in, enter your PAN number and click the Next button.
  4. Select ‘New IEC Application Details’ from the File menu.
  5. Following that, a new window will appear containing an application form. Fill out the complete form carefully.
  6. Once you are done filling out the form, click on ‘Upload Documents’ and upload all the required documents.
  7. After uploading the necessary documents and filling out the form, you need to click on the ‘Branch’ Button to add any branch information.
  8. Moving forward, click on ‘Director’ to add the director’s information.
  9. To make an online payment, select the ‘EFT’ Button. Complete the IEC application process by filling in the amount details to make a transaction, i.e., Rs. 250 and select your bank.
  10. Right after you do that, a draft invoice will appear. Double-check all the information and click on the ‘Pay Now’ Button. Complete the payment by using the internet banking details.
  11. Within 15 days of filing an online application, the applicant must deliver a hard copy of their application to the DGFT’s office, along with all supporting evidence.

Document Requirements to Apply for IEC Number

Document Requirements to Apply for IEC Number

To apply for an IEC Number, there are certain documents that you must be prepared with. Check out the documents that are mandatory to apply for the Import Export Code Number:

  1. PAN No. of the Applicant
  2. Address Proof
  3. Passport Size Photo of the Proprietor/Directors/Authorized Person
  4. Current Bank Account
  5. Incorporation Certificate
  6. Bankers Certificate
  7. IFC Code Number Application Fee
  8. Bank Certificate or Cancelled Cheque containing details of the company & account number.
  9. Any other document if asked by the DGFT department.

We hope that you have acquired information about the procedure of “How to Export Medicines from India to Other Countries“. Aside from that, if you want to have an established business a pharmaceutical firm that offers top-quality pharma products, then connect with the Best PCD Pharma Franchise Company in India, Pax Healthcare. The company is firmly engaged in exporting some of the most demanded medicine formulations in various international countries around the world.