{"id":1044,"date":"2021-01-09T06:15:17","date_gmt":"2021-01-09T06:15:17","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=1044"},"modified":"2021-01-09T06:21:43","modified_gmt":"2021-01-09T06:21:43","slug":"concept-and-licenses-required-to-start-pharmaceuticals-export-business","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/","title":{"rendered":"Start Pharmaceuticals Export Business: Concept and Licenses Required"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The Indian Pharmaceuticals Sector is the third largest in the world in terms of \u201cVolume\u201d and thirteenth largest in terms of \u201cValue\u201d. Further, this sector has established itself as a \u201cGlobal Manufacturing and Research Hub\u201d. Also, the Indian Pharmaceutical Sector is mainly dominated by \u201cGeneric Drugs\u201d which constitutes nearly 70% of the total market, in contrast, patented drugs and over the counter medicines forms 9% and 21% shares respectively. Therefore, nowadays, every budding entrepreneur seeks to start pharmaceuticals export business of his\/her own in India.<\/p>\n\n\n\n<p>In this blog, we will discuss the concept, licenses, and\nprocedure required to start pharmaceuticals export business in India, together\nwith the ongoing growth statistics and trends of the sector.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a8f679b1fd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a8f679b1fd\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Concept_of_Pharmaceutical_Product\" title=\"Concept of Pharmaceutical Product\">Concept of Pharmaceutical Product<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Factors_to_Determine_Whether_a_Product_is_Pharmaceutical_or_Not\" title=\"Factors to Determine Whether a\nProduct is Pharmaceutical or Not\">Factors to Determine Whether a\nProduct is Pharmaceutical or Not<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Usage_Claims_Made_With_Regard_to_the_Product\" title=\"Usage Claims Made With Regard to the\nProduct\">Usage Claims Made With Regard to the\nProduct<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Composition_of_the_Product\" title=\"Composition\nof the Product\">Composition\nof the Product<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#What_are_the_Reasons_to_Start_Pharmaceuticals_Export_Business\" title=\"What are the Reasons to Start Pharmaceuticals Export Business?\">What are the Reasons to Start Pharmaceuticals Export Business?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Growth_of_Pharmaceuticals_Export_Business_in_India\" title=\"Growth of Pharmaceuticals Export\nBusiness in India\">Growth of Pharmaceuticals Export\nBusiness in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Major_Players_of_Pharma_Export_Sector\" title=\"Major Players of Pharma Export\nSector\">Major Players of Pharma Export\nSector<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Major_Importers_of_PharmaceuticalsFrom_India\" title=\"Major Importers of PharmaceuticalsFrom\nIndia\">Major Importers of PharmaceuticalsFrom\nIndia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Factors_To_Consider_To_Start_Pharmaceuticals_Export_Business_In_India\" title=\"Factors To Consider To Start\nPharmaceuticals Export Business In India\">Factors To Consider To Start\nPharmaceuticals Export Business In India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Documents_Required_To_Start_Pharmaceutical_Export_Business_in_India\" title=\"Documents Required To Start\nPharmaceutical Export Business in India \">Documents Required To Start\nPharmaceutical Export Business in India <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Licenses_Required_To_Start_Pharmaceutical_Export_Business_in_India\" title=\"Licenses Required To Start\nPharmaceutical Export Business in India \">Licenses Required To Start\nPharmaceutical Export Business in India <\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Company_Registration\" title=\"Company Registration\">Company Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Import_Export_Code\" title=\"Import Export Code \">Import Export Code <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#GST_Registration\" title=\"GST Registration\">GST Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Custom_Clearance\" title=\"Custom Clearance\">Custom Clearance<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/swaritadvisors.com\/blog\/concept-and-licenses-required-to-start-pharmaceuticals-export-business\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Pharmaceutical_Product\"><\/span>Concept of Pharmaceutical Product<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term \u201cPharmaceutical Product\u201d means\na mixture or substance manufactures, supplied, or sold for use in the treatment\nor mitigation of any abnormal physiological or physical state or its associated\nsymptoms. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n\n\n\n<p>Further, the same is used to modify,\nalter, restore, or correct any organic function in both human being and\nanimals. However, it shall be taken into the record that the same is subject to\nthe control and administration by Pharmaceutical Legislation. Also, it shall be\nrelevant to note for every individual or business entity who want to start\npharmaceuticals export business in India that due to public health concerns,\nall the pharmaceutical product export from or imported in India must confirm\n\u201cInternational Safety Standards\u201d.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Factors_to_Determine_Whether_a_Product_is_Pharmaceutical_or_Not\"><\/span>Factors to Determine Whether a\nProduct is Pharmaceutical or Not<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The factors to consider for determining whether a product is pharmaceutical or not are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Usage-Claims-Made-With-Regard-to-the-Product.png\" alt=\"Factors to Determine Pharmaceutical or Not\" class=\"wp-image-1050\" width=\"593\" height=\"305\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Usage-Claims-Made-With-Regard-to-the-Product.png 929w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Usage-Claims-Made-With-Regard-to-the-Product-300x154.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Usage-Claims-Made-With-Regard-to-the-Product-768x395.png 768w\" sizes=\"(max-width: 593px) 100vw, 593px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Usage_Claims_Made_With_Regard_to_the_Product\"><\/span>Usage Claims Made With Regard to the\nProduct<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This factor deals with the description of what the said\nproduct is used for. Further, the description mentioned usually appears at the\nback of the product or there will be a pamphlet inside the packaging of that\nproduct.&nbsp; <\/p>\n\n\n\n<p>That means if the usage is proposed for medical\npurposes, then, in that case, it falls into the Pharmaceutical Category.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Composition_of_the_Product\"><\/span>Composition\nof the Product<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If a product comprises of a drug\nsubstance, then, in that case, the same will be termed as a Pharmaceutical\nProduct. Further, the term \u201cDrug Substance\u201d means a substance which is used for\nthe prevention and treatment of a disorder or disease.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Reasons_to_Start_Pharmaceuticals_Export_Business\"><\/span>What are the Reasons to Start Pharmaceuticals Export Business?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>At present,\nIndia exports numerous pharmaceuticals and medical products, such as Dosage\nFormulations (FDFs), Bio Pharmaceuticals, Drug Intermediates, etc., to several\nparts of the world.<\/p>\n\n\n\n<p>Further,\nthe country ranks at the third position terms of \u201cVolume\u201d and thirteenth largest in terms of \u201cValue\u201d.Seeing\nat this, the world is now treating India as a profitable location for both the\nmarkets and manufacture of pharma products. Therefore, the pharma export market\nof India has potential to engage customers from all over the world regarding\ntheir pharmaceutical formulations, which are available in all types of Dosage\nForms.<\/p>\n\n\n\n<p>Furthermore, the reasons to start the pharmaceuticals export business in India are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Largest-Manufacturer-of-Generic-Drugs-609x1024.png\" alt=\"Reasons to start pharmaceuticals export business\" class=\"wp-image-1049\" width=\"400\" height=\"672\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Largest-Manufacturer-of-Generic-Drugs-609x1024.png 609w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Largest-Manufacturer-of-Generic-Drugs-178x300.png 178w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Largest-Manufacturer-of-Generic-Drugs-768x1292.png 768w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/Largest-Manufacturer-of-Generic-Drugs.png 915w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/figure><\/div>\n\n\n\n<ol><li>Largest Manufacturer of Generic Drugs;<\/li><li>India Exports 40% of the Total Pharma Products Manufactured;<\/li><li>In the year 2020, the total export of Pharmaceuticals from India stood at US$ 16.3 billion;<\/li><li>The total pharmaceutical products exported from India comprises of 55% of Formulations and the remaining 45% of Bulk Drugs;<\/li><li>India has the Lowest Manufacturing Cost in the World, which thereby Increases the Demand for Generic Drugs worldwide;<\/li><li>The Pharmaceutical Export Promotion Council (PHARMEXCIL) is working hard to Promote and Encourage the level of Pharma Exports from India; <\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Growth_of_Pharmaceuticals_Export_Business_in_India\"><\/span>Growth of Pharmaceuticals Export\nBusiness in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The growth of Pharmaceutical Export Business\nin recent years can be summarised:<\/p>\n\n\n\n<ol><li>As per a report named \u201c<em><strong>Indian Pharmaceutical Export Value F.Y. 2012 to 2020<\/strong><\/em>\u201d, published by <em><strong>STATISTA<\/strong><\/em><strong> <\/strong>on <em><strong>16.10.2020<\/strong><\/em>, India ranks at the top position for providing generic drugs all over the world. Moreover, as of the data of November in the financial year 2020, the country has exported pharmaceuticals of worth almost the US $11 billion. Also, in terms of the volume, Indian drugs consist of20% of the \u201cGlobal Generic Drug Exports\u201d;<\/li><li>Based on a report published by the <em><strong>India Brand Equity Foundation (IBEF)<\/strong><\/em> on <em><strong>30.12.2020<\/strong><\/em>, the total pharmaceuticals export from India stood at the US$ 16.3 billion in the Financial Year 2020. Further, the term \u201cPharmaceutical Export\u201d comprises of Bulk Drugs, Intermediates, Biologicals, Drug Formulations, Ayush and Herbal products, and Surgical Products. Moreover, it is anticipated that the Indian Pharmaceutical Export will reach the worth of the US $13.87 billion in the Financial Year 2021;<\/li><li>Again as per the report published by the <em><strong>India Brand Equity Foundation (IBEF)<\/strong><\/em> on <em><strong>30.12.2020<\/strong><\/em>, alone in the month of October 2020, India had Exported Pharmaceuticals of worth the US $ 2.07 billion;<\/li><li>According to an article named \u201c<em><strong>India\u2019s Pharma Export Shoots up Amid Coronavirus Pandemic<\/strong><\/em>\u201d, by <em><strong>Financial Express<\/strong><\/em>, published on <em>05.01.2021<\/em>, the export level of the Indian Pharmaceutical Sector has surged 18% in the Formulations. Also, there is 9% increment in the Bulk Export of Drugsduring H1 F.Y. 21;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Major_Players_of_Pharma_Export_Sector\"><\/span>Major Players of Pharma Export\nSector<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The major player of the Pharma Export\nSector in India are as follows:<\/p>\n\n\n\n<ol><li>JoinHub Pharma Private Limited;<\/li><li>Sun Pharmaceutical Industries Pvt Ltd;<\/li><li><strong>Cipla Limited<sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Cipla\" class=\"text-primary\"><strong><em>[1]<\/em><\/strong><\/a><\/sup><\/strong>;<\/li><li>Dr Reddy\u2019s Laboratories;<\/li><li>Aurobindo Private Ltd;<\/li><li>Kings Global Biotech Ltd;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Major_Importers_of_PharmaceuticalsFrom_India\"><\/span>Major Importers of PharmaceuticalsFrom\nIndia<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As per a report published by the Indian Trade Portal, the major importers of the Indian Pharmaceutical variety in the year 2019 are as follows:<\/p>\n\n\n\n<table>\n<tbody>\n<tr>\n<td width=\"312\">\n<p><strong>Country Name<\/strong><\/p>\n<\/td>\n<td width=\"312\">\n<p><strong>Total Value<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"312\">\n<p>United States of America<\/p>\n<\/td>\n<td width=\"312\">\n<p>US $119. 18 Million<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"312\">\n<p>Russia<\/p>\n<\/td>\n<td width=\"312\">\n<p>US $10. 33 Million<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"312\">\n<p>United Kingdom<\/p>\n<\/td>\n<td width=\"312\">\n<p>US $9. 83 Million<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"312\">\n<p>South Africa<\/p>\n<\/td>\n<td width=\"312\">\n<p>US$3. 63 Million<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"312\">\n<p>Nigeria<\/p>\n<\/td>\n<td width=\"312\">\n<p>US$1. 71 Million<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Factors_To_Consider_To_Start_Pharmaceuticals_Export_Business_In_India\"><\/span>Factors To Consider To Start\nPharmaceuticals Export Business In India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The factors to consider to start pharmaceuticals\nexport business in India are as follows:<\/p>\n\n\n\n<ol><li>Register a Private Limited Company\/Partnership Firm or LLP that will manufacture and market the pharmaceutical products;<\/li><li>Obtain the <strong><a href=\"https:\/\/swaritadvisors.com\/iec-registration\" class=\"text-primary\">IEC Registration<\/a><\/strong> and IEC Number;<\/li><li>Acquire other required Licenses to Start Pharmaceuticals Export Business;<\/li><li>Choose a Target Country;<\/li><li>Engage Distributors or Agents in the Target Country, or register an office in that Country;<\/li><li>Get the Particulars, Documents, and Terms and Conditions signed off by the hired distributor or agent;<\/li><li>Register the Pharmaceutical Product in the Target Country;<\/li><li>Get the Export Approval from DCGI (Drugs Controller General of India);<\/li><li>Decide the Mode of Shipping, Payment, and Delivery in the target Country;<\/li><li>Receive Purchase Order;<\/li><li>Send Pro-forma Invoice, together with details, such as follows:<\/li><li>Type of Packing;<\/li><li>Rate;<\/li><li>Freight Details, etc.;<\/li><li>Prepare Commercial Invoice against LOC (Letter of Credit) or Purchase Order;<\/li><li>Sign Contract with the FFA (Freight Forwarding Agency) to ship the product to the respective target country;<\/li><li>Send Products for Custom Clearance;<\/li><li>After receiving clearance, the material will be shipped further;<\/li><li>In the importing or the target country, customs clearance is again required;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_Required_To_Start_Pharmaceutical_Export_Business_in_India\"><\/span>Documents Required To Start\nPharmaceutical Export Business in India <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The documents required to start\npharmaceutical export business in India are as follows:<\/p>\n\n\n\n<ol><li>COR (Certificate of Registration);<\/li><li>PAN (Permanent Account Number) Card of the Applicant Company;<\/li><li>Identity Proof of the partners or directors, in the form of DL (Driving License), Aadhar Card, Voter Identity Card, etc.;<\/li><li>Address Proof for the Registered Office of the Applicant Company, in the form of Rent Agreement or Sale Deed, together with Utility Bills;<\/li><li>A copy of Memorandum of Association (MOA);<\/li><li>A copy of Articles of Association (AOA);<\/li><li>In the case of an <strong><a href=\"https:\/\/swaritadvisors.com\/limited-liability-partnership-registration\" class=\"text-primary\">LLP Registration<\/a><\/strong>, a copy of the Limited Liability Partnership or LLP Agreement;<\/li><li>In the case of a Partnership Firm, a copy of the Registered Partnership Deed;<\/li><li>Certificate of Goods or Service Tax or GST Registration;<\/li><li>Import Export Code (IEC);<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Licenses_Required_To_Start_Pharmaceutical_Export_Business_in_India\"><\/span>Licenses Required To Start\nPharmaceutical Export Business in India <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The licenses required to start pharmaceutical export business in India are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/company-registration.png\" alt=\"Licenses Required To Start Pharmaceutical Export Business\" class=\"wp-image-1048\" width=\"710\" height=\"258\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/company-registration.png 953w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/company-registration-300x109.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/01\/company-registration-768x280.png 768w\" sizes=\"(max-width: 710px) 100vw, 710px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Company_Registration\"><\/span>Company Registration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>To start a pharmaceutical export business in India, the foremost condition is to register a company\/Limited Liability Partnership\/ or Partnership Firm in India. <\/p>\n\n\n\n<p>Further, for acquiring a <strong><a href=\"https:\/\/swaritadvisors.com\/private-limited-company-registration\" class=\"text-primary\">Private Limited Company Registration<\/a><\/strong>, the applicant needs to file an application under the provisions and stipulations of the Companies Act 2013. <\/p>\n\n\n\n<p>In the same manner, for obtaining Partnership Firm Registration or LLP Registration, the applicant requires to apply under the provisions of the Indian Partnership Act 1932 or Limited Liability Partnership Act 2008 respectively.<\/p>\n\n\n\n<p>However, the most suitable business\nformat to start pharmaceutical export business in India is a Limited Liability\nPartnership, as it provides benefits and treats of both a Partnership Firm and\nPrivate Ltd Company.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Import_Export_Code\"><\/span>Import Export Code <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Another most vital license to start\npharmaceutical export business in India is IEC or Import Export Code. Further,\nto obtain IEC Registration in India, the applicant requires to furnish an\nonline application on the official website of the Director General of Foreign\nTrade (DGFT). <\/p>\n\n\n\n<p>Also, it shall be significant to take\ninto the record that without a valid Import Export Code or IEC code, an\nindividual or a business entity cannot start pharmaceutical export business in India.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"GST_Registration\"><\/span>GST Registration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>According to the provisions and stipulations of the Goods or Service Tax or GST Act, it is compulsory for every Import Export Code holder to apply for GST Registration in India. Also, in the case of Import and Export the aggregate annual turnover is considered.<\/p>\n\n\n\n<p>That means for every IEC code holder it\nis mandatory to get GST Registration done in India.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Custom_Clearance\"><\/span>Custom Clearance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Customs Clearance is another crucial document that needs to be mandatorily obtained when the applicant wants to start pharmaceutical export business in India. Also, the same can be done either by the applicant on its own or by it can hire a Clearing Agent for the same.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In a nutshell, the attempts and the efforts made by the government (both the Central Government and State Government), together with the Pharmaceutical Export Promotion Council (PHARMEXCIL) to promote, encourage, support, and stimulate foreign trade and export of pharmaceuticals by way of various schemes, grants, subsidies, and aids are paying off now. That clearly means that the Indian Pharmaceutical Export Sector can now easily move ahead to discover the unmapped and untraced new markets worldwide. As the same holds huge scope, possibility, and opportunity both in terms of customer base and income generation. <\/p>\n\n\n\n<p>But, it shall again be relevant to\nrecord that opening a pharmaceutical export business in India is subject to\nmany legal, intricate, and complicated regulations and compliances, for which\nit is always advised that the applicant must reach out for professional\nassistance. <\/p>\n\n\n\n<p>At Swarit Advisors, our skilled, dedicated, and proficient experts of various domains and fields are ready to cater to your needs. Also, they will not only provide you the top-notch advice and suggestions but will assist and guide you in the procedure of acquiring licenses, registrations, and permits as well.<\/p>\n\n\n\n<p><b>Also, Read:<\/b> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/difference-between-iec-certification-and-import-license\/\">Know the Complete Difference Between IEC Certification and Import License<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indian Pharmaceuticals Sector is the third largest in the world in terms of \u201cVolume\u201d and thirteenth largest in terms of \u201cValue\u201d. Further, this sector has established itself as a \u201cGlobal Manufacturing and Research Hub\u201d. Also, the Indian Pharmaceutical Sector is mainly dominated by \u201cGeneric Drugs\u201d which constitutes nearly 70% of the total market, in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6,40],"tags":[159],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1044"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=1044"}],"version-history":[{"count":10,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1044\/revisions"}],"predecessor-version":[{"id":1058,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1044\/revisions\/1058"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/1045"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=1044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=1044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=1044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}