India-Pakistan air strikes: Drug exporters wary of tension between two countries, apprehensive about future
The Indian pharmaceutical companies exports over $140 million to Pakistan with 50 percent active pharmaceutical ingredients.
The Indian pharmaceutical companies exports over $140 million to Pakistan with 50 percent active pharmaceutical ingredients
Pharmaceuticals Export Promotion Council is flooded with inquiries on the continuance of exports
After escalating tensions, exports may become costlier to some of the countries in the Middle-East
Hyderabad: In the wake of escalated tension between India and Pakistan, Indian exporters of pharmaceuticals are apprehensive of their future.
According to a top official of the Pharmaceuticals Export Promotion Council, a body under the ministry of commerce, the agency was flooded with inquiries if there was any directive from the ministry on the continuance of exports to the neighbouring country.
The Indian pharmaceutical companies exports over $140 million to Pakistan with 50 percent active pharmaceutical ingredients (API).
"There are inquires from the exporters whether they can continue to supply or not. At this point of time, exporters are very cautious. There is a concern over the future, but as of now we are not in a position to say anything. We need to wait and watch," director general of Pharmexcil Udaya Bhaskar told PTI.
A pharmaceutical company, which exports to Pakistan, said the firm was observing restraint under the current situation.
A senior executive of a city-based pharma company said as there was tension between both the nations, exports may become costlier to some of the countries in the Middle-East as cargo and passenger flights need to avoid Pakistani skies and take a detour.
The country's second-largest drug maker last week said it received a warning letter from the US drug regulator relating to two of its API manufacturing plants and a formulation plant located in Andhra Pradesh and Telangana.
The Indian government has issued show cause notices to, and may soon blacklist, eight Chinese pharmaceutical companies found to be supplying poor quality raw material to drug manufacturers in this country
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