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 per cent 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 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.
Source: moneycontrol.com