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The Indian pharmaceutical companies are looking ahead to fill the blank spaces which are currently present in the Chinese demands for the generic drugs, software, variety of rice etc. The China is preparing to give swift regulatory approvals India- manufactured drugs, the head of an Indian export promotion group said.
We do feel that China is receptive at this time and it's all about making prices competitive,” said by a government official involved in the effort to promote trade in China.
India is becoming huge in the Pharmaceutical market, India is dominating the generic drug market by exporting 17.3 billion worth of drugs in year 2017-18 (April-March) year, including to the US & EU, but only 1 percent to China which is the second- largest market for the pharmaceuticals.
Currently many of the India drug-makers are already doing business with the European Union. As the EU is already the one of the key export market for medicines for India. The swift regulatory approvals in China will allow the Indian companies to boost the revenue during the pricing scrutiny and regulatory troubles have hurt the US sales.
