Are you a pharmaceutical importer who wants to import high-quality Indian medicines? If yes, then it is very much essential for you to know the rules and regulations applicable in India as well as your respective country.
Every country has separate import norms for medicines or any goods for that matter. Therefore, it is always good to gather required information from different sources.
You can search for websites on the Internet for that.
India has emerged as one of the large markets that export medicines and related products to the whole world. With the recent economic boom and favorable policies, India becomes a preferred market to import medicines.
Indian pharmaceutical companies are supposed to get approval for exporting the medicines to a specific country. There are separate permissions for each country.
Hence, you must check that the company you are importing medicines has the necessary approval in India to export medicines in your country.
Due to any non-compliance of the pharma company, you should not get into trouble.
For example, to export medicines in Arab countries, the pharma company requires GCC approval and the approval from Saudi FDA.
To export in Lebanon or Syria; approval from the US FDA, EU GMP or Japanese FDA is required. To ship in Bhutan, Myanmar or Vietnam, you need ACTD Dossier and product registration.
Therefore, you must know the information before signing the import contract.
As per the Import/Export regulations in India, a company has to get the exporter’s code number from the Reserve Bank of India.
Also, it is mandatory to get the IEC code without that it is not possible to send medicines out of India. The IEC number is required to open a bank account that is authorized to deal in foreign exchange.
If you are importing medicines from India, then check that the pharma company gives you the export code number and IEC code.
There are norms about issuing the letter of credit and In-process quality control. These aspects should be known to you beforehand.
It is not very difficult to import medicines from India if you get an understanding of the regulations. The best way is to hire a consultant.
India has emerged as one of the manufacturing countries where importers get the best medicines and transparent policies.
With the boost in the Indian economy, more and more pharma companies are emerging into the export-import market for medicines.
Also Read:
How do I get Medicine Directly from the Pharmaceutical Manufacturer in India?
