The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has received an urgent request from the Indian Embassy in Venezuela. The embassy has sought active pharmaceutical ingredients (APIs) and raw materials for a manufacturing facility in the South American country.
Pharmexcil Urges Member Companies to Respond
Raja Bhanu, Director General of Pharmexcil, has called on member companies with Stringent Regulatory Authority (SRA) approvals to express their willingness to supply these materials. Companies must submit their interest through a designated Google Form at the earliest.
“Pharmexcil has been approached by the Indian Embassy in Caracas to facilitate the supply of APIs and raw materials required for pharmaceutical manufacturing in Venezuela. We request member companies with relevant approvals to seize this opportunity and express their willingness through the provided Google Form,” Bhanu stated.
List of Required Materials Shared
Pharmexcil has shared a detailed list of required materials with its members. Some of the key substances include:
- Acetaminophen micronized powder
- Benzoic acid
- Citric acid
- Amlodipine besylate
- Aspirin
- Atorvastatin calcium
- Sodium benzoate
- Isopropyl alcohol
- Corn starch
These and several other essential pharmaceutical ingredients are needed for manufacturing in Venezuela.
Coordination with the Indian Embassy
Pharmexcil will compile all submissions and forward them to the Commerce Embassy of India in Caracas. This process aims to ensure seamless coordination and enable Indian companies to explore potential trade opportunities in Venezuela.
Expanding Business Opportunities in Latin America
“This initiative offers a significant business opportunity for Indian pharmaceutical manufacturers to expand in Latin America. With Venezuela’s rising demand for pharmaceutical raw materials, this effort strengthens India’s commitment to supporting global healthcare needs,” Bhanu explained.
About Pharmexcil
Pharmexcil, established in 2004, operates under the Ministry of Commerce & Industry, Government of India. The organization promotes Indian pharmaceutical exports and works closely with the government to shape trade policies. It provides market insights, regulatory guidelines, and export opportunities to member companies.
As reported by pharmabiz.com, additionally, Pharmexcil organizes business delegations, trade fairs, and buyer-seller meets to connect Indian exporters with global buyers. It also helps companies comply with international regulatory requirements, facilitating their expansion into new markets.