India is looking for details on pharmaceutical exports to Pakistan before the likely total ban

Copyright © HT Digital Streams Limit all rights reserved. Industry India is looking for a detailed report on pharmaceutical exports to Pakistan before a probable ban on all bilateral trade that India has carried out to India drugs worth about $ 208 million to Pakistan until March. (Beeld: Pixabay) Summary In light of the recent terror attack, India is reviewing its pharmaceutical exports to Pakistan. The Department of Pharmaceutical Products has requested a report on exports over the past two years, as it is considering an embargo, following the announcement of Pakistan to stop trading with India. New -Delhi: India’s Department of Pharmaceutical Products sought a detailed report on the quantity of medicine sent to Pakistan over the past two years, before a possible embargo on further exports, a person familiar with the case said. The Pharmaceutical Export Promotion Board of India (Pharmexcil), which is under the Ministry of Trade, was asked to provide the details in the background of India in which the possibility of a complete trading with Pakistan is investigating the terror attacks in Pahalgam last week. India has already closed the Attari Check Post, an important country route through which most trade takes place between the two countries. “Pharmexcil only received a communication from the Department of Pharmaceutical Products regarding the quantity of pharmaceutical exports to Pakistan over the past two financial years. Pharmexcil has provided the data to the track. It is assumed that the government can make a decision,” the person said and requested anonymity. Read also | Mint Primer | Why the trade ban of Pakistan is more healthy than Fury “The Government of India is taking multiple actions against Pakistan. Looking for details of pharmaceutical exports to Pakistan is perhaps one of the things to know how many India can do, and how much India can stop. But Pakistan has already announced that they have stopped all trade with India,” India’s direct trade with Pakistan is delayed – $ 1.2 billion in FY24, some essential items such as medicine and pharmaceutical products are traded by different routes. dropped by 7.7% to $ 176.54 million in FY24, according to data on the Pharmexcil website, which accounts for 0.6% of the country’s total pharmaceutical exports. High dependence “India exports APIs (active pharmaceutical ingredients), medicine formulations, biological agents, bulk medicines and intermediates, vaccines, surgicals, Ayush and herbs. We have a significant number of vaccines that go to Pakistan due to the major demand and vaccination requirements, which are greatly presented by the UN agencies. items. According to the official, Pharmexcil received no official notice on the embargo for exporting Pharma to Pakistan, but it should come soon. Pharmexcil can only limit the export to Pakistan after getting a direction from the Ministry of Trade. Read also | In maps: Is Indo-Pak trading too little to matter? “And even though there is a blanket ban on export to Pakistan, the customs division is the last gate to block consignments because they know the destination of the destination,” the official said. Pakistan’s pharmaceutical sector is very dependent on inputs from India. Pakistan’s drug regulatory authority has put in place contingency plans after the suspension of trade ties with India and is looking for alternative sources from China, Russia and European countries, Geo News said in a report on its website on April 26. Pakistan imports 30% -40% of its pharmaceutical raw material from India. It also imports completed products such as anti-cancer therapies, biological products, vaccines and sera, especially anti-bay vaccines and the anti-snake poison, from India, the report quoted a senior official of the Ministry of National Health Services in Pakistan. “Our pharmaceutical export to Pakistan has always been very small,” Uday Bhaskar, former director general of Pharmexcil, said earlier. “So there is no significant pharmaceutical trade between India and Pakistan and a negligible impact.” Read also | Mint Explainer: India puts Indus Waters -Deed on ice – What’s at stake for both sides, terrorists killed 26 people and injured more than 20 individuals on a popular tourist destination near Pahalgam in Jammu and Kashmir on April 22. The incident was condemned worldwide with the US, Russia and Israel who expanded support to India to combat terrorism. Inquiries sent to the Department of Pharmaceutical Products and Pharmexcil spokesman remained unanswered. Catch all the industry news, bank news and updates on live currency. Download the Mint News app to get daily market updates. More Topics #Pharma Industry #india #Trade Mint Special