China has agreed to conduct specific training programmes for Indian pharmaceutical companies to understand their regulatory system, which will promote India’s exports from the sector.
The move assumes significance as it takes years for Indian pharmaceutical companies to obtain regulatory clearances for their products in China.
“China has assured us that they would provide a platform for Indian exports of pharmaceutical products and would also impart specific training to our companies to understand the Chinese regulatory system and processes,” the Indian official said.
India’s pharmaceutical exports increased by about 3 per cent to $7.27 billion in 2017-18. While the exports to China stood at $182.67 million in 2017-18 only. China is the second largest market for pharmaceuticals after the USA.