India’s rich heritage in traditional medicine—encompassing Ayurvedic, Unani, Siddha, and Homeopathic systems—has been a cornerstone of health and wellness for centuries. These time-tested practices utilize herbal and natural remedies, offering holistic approaches to health that are increasingly gaining global recognition. In recent years, the global demand for natural and alternative medicines has surged, presenting a significant opportunity for India to boost its exports of traditional medicinal products. Central to this endeavor is the Pharmaceutical Export Promotion Council of India (Pharmexcil), which plays a pivotal role in promoting and facilitating the export of these products.

The Global Market for Traditional Medicines

The global shift towards natural and holistic health solutions has led to a burgeoning market for traditional medicines. Consumers worldwide are increasingly seeking herbal and alternative remedies, driven by a desire for natural health solutions and preventive care. This trend is evident in the substantial growth of the global herbal medicine market, which was valued at approximately $83 billion in 2019 and is projected to reach $550 billion by 2030, growing at a compound annual growth rate (CAGR) of 18.9%.

India, with its vast repository of medicinal plants and traditional knowledge, is well-positioned to capitalize on this growing demand. The country’s export of herbal medicines has seen a positive trajectory, with significant contributions to the global market. In 2023, the United States accounted for more than 25% of the Ayurvedic and herbal products exported by India, highlighting the country’s expanding reach in international markets.(FDA)

Pharmexcil’s Initiatives in Promoting Traditional Medicine Exports

Established in 2004 under the aegis of the Ministry of Commerce and Industry, Pharmexcil serves as the authorized agency for promoting pharmaceutical exports from India, including traditional medicinal products. With a membership base of over 3,700, encompassing manufacturers of formulations, active pharmaceutical ingredients (APIs), biologicals, vaccines, and herbal products, Pharmexcil is dedicated to enhancing India’s export competitiveness in the global pharmaceutical arena.(Cover – GBR Digital Publications)

Market Development Assistance (MDA) and Market Access Initiative (MAI) Schemes

To support exporters, especially small and medium-sized enterprises (SMEs), Pharmexcil facilitates access to financial assistance through the Market Development Assistance (MDA) and Market Access Initiative (MAI) schemes. These schemes, announced by the Ministry of Commerce and Industry, provide financial support for activities such as participation in international trade fairs, market research, and product registration abroad. By subsidizing the costs associated with exploring and entering new markets, these initiatives aim to reduce the financial barriers that SMEs often face in the export process.

Quality Assurance and Standardization

Ensuring the quality and safety of traditional medicinal products is paramount for gaining international acceptance. Pharmexcil emphasizes the importance of adhering to global quality standards and works closely with regulatory authorities to facilitate compliance. The council provides guidance on Good Manufacturing Practices (GMP), assists in obtaining necessary certifications, and organizes training programs to enhance the capabilities of manufacturers. These efforts are crucial in building trust with international consumers and regulatory bodies, thereby enhancing the credibility of Indian traditional medicines in the global market.

International Collaborations and Regulatory Advocacy

Navigating the complex regulatory landscapes of different countries can be challenging for exporters. Pharmexcil plays a proactive role in engaging with international regulatory agencies to advocate for the acceptance of Indian traditional medicinal products. By fostering bilateral dialogues, participating in international forums, and providing inputs on regulatory frameworks, the council strives to create a conducive environment for exports. These collaborative efforts aim to harmonize standards, reduce trade barriers, and facilitate smoother market entry for Indian products.

The Role of Altus Exports in Facilitating Global Partnerships

While organizations like Pharmexcil provide the necessary support and framework for exports, the role of export facilitators such as Altus Exports is instrumental in bridging the gap between manufacturers and international markets. Altus Exports specializes in forming strategic alliances with manufacturers who are committed to excellence and aspire to establish a global presence.

Partnership Model

Altus Exports offers a comprehensive partnership model that goes beyond traditional export services. Acting as an extension of the manufacturer’s business, Altus provides a dedicated export team that simplifies the complexities of international trade. This includes expertise in identifying potential buyers, accessing comprehensive market intelligence databases, and leveraging a skilled marketing team to promote products effectively in the international arena. By maintaining an extensive network of contacts across various industries and regions, Altus ensures that manufacturers can tap into new markets with ease and confidence.

How Indian Manufacturers Can Partner with Altus Exports

Manufacturers interested in expanding their global footprint can benefit from collaborating with Altus Exports. The partnership process is straightforward:

1. Assessment of Product Readiness: Ensuring that products meet international quality standards and possess the necessary certifications for export.

2. Documentation and Compliance: Assisting in obtaining essential export documentation and ensuring compliance with the regulatory requirements of target markets.

3. Market Research and Strategy Development: Conducting thorough market research to identify potential markets and developing tailored strategies to enter and establish a presence in those markets.

4. Marketing and Promotion: Utilizing Altus’s skilled marketing team to create and implement effective promotional campaigns that resonate with the target audience.

5. Logistics and Distribution: Coordinating logistics to ensure timely and efficient delivery of products to international buyers.

By partnering with Altus Exports, manufacturers can leverage their expertise and resources to navigate the complexities of international trade, thereby accelerating their entry into global markets. For more information on forming a partnership, visit Altus Exports’ Manufacturer Partnership page.

Conclusion

The global appetite for natural and holistic health solutions presents a golden opportunity for India to amplify its exports of traditional medicinal products. With the concerted efforts of organizations like Pharmexcil in promoting quality assurance, standardization

Success Stories: Indian Pharma Exporters Thriving with Pharmexcil’s Support

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Biotech and Biological Products: Supporting Innovation and International Collaboration

Promoting Traditional Medicine: Boosting Exports of Herbal, Ayurvedic, Unani, and Homeopathic Products

Capacity Building: Training Programs and Workshops for Export Excellence

Policy Advocacy: Representing Exporters’ Interests on the Global Stage

Facilitating Global Networking: Trade Delegations and Buyer-Seller Meets

Navigating Regulatory Landscapes: Pharmexcil’s Role in Compliance and Certifications

Market Research and Intelligence: Empowering Exporters with Data-Driven Insights