The Hindu Business Line : `Streamline customs norms to boost pharma exports to China'

Advertisement

New Delhi Jan. 29 To boost India's pharmaceuticals exports to China, the Federation of Indian Chambers of Commerce and Industry (FICCI) has called for streamlining customs procedures and removal of non-tariff barriers.

The chamber suggested that recognition agreements on standards should be arrived at and full details of standards should be made easily available. It also recommended that the various non-tariff barriers such as procedural, legal and cultural barriers be identified, and addressed in a time-bound framework. A bilateral pre-shipment inspection agreement would also benefit both countries, it said.

Deterring factors

It is noteworthy that Indian exports of drug, pharmaceuticals and fine chemicals to markets such as the US, Europe, Africa and South America have grown by 19 per cent annually in the last three years, while the world average growth rate for this sector is about six per cent. In contrast, India's exports to China have grown at just three per cent in the last three years. This indicates that the high-performing Indian pharma sector has not found the environment conducive for achieving similar growth with China, according to the chamber.

Procedures for product and company registration and for procuring import drug licences are expensive and time-consuming. This is a considerable deterrent for Indian entrepreneurs to initiate exports to China, FICCI pointed out.

Long customs procedures, re-inspections and discriminatory packaging and labelling regulations that even specify the colour used for packaging, result in delays and higher costs. Easier trade financing and greater cooperation between the Exim banks of the two countries would also work to the benefit trade between the two countries, according to the chamber.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Under fog

Flexible rates may instil greater fiscal restraint

Deora leads high-level team to Libya, Yemen

Forging ties

Oscillatory ventilator launched

Five-city debate to finalise stem cell norms

Petronet LNG to sign deal with Aussie co

`Streamline customs norms to boost pharma exports to China'

Ratnagiri Gas wants higher price for power from Dabhol

GMR inks pact with Arunachal for 160 MW hydro power project

Maharashtra tax revenue falls 20 pc in Dec

Plea for VAT return collection centre

Hyundai vendors may set up units near Chennai

Films, piracy and copyright

Blackstone to pick stake in Ushodaya Enterprises

Govt playing safe on maize imports

Auto sector envisages turnover of $145 b by 2016