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China to conduct training programmes for Indian pharma cos on regulatory system

Press Trust of India  |  New Delhi 

has agreed to conduct specific training programmes for domestic companies to understand their regulatory system, which will promote India's exports from the sector, a senior government said.

The move assumes significance as it takes years for Indian companies to obtain regulatory clearances for their products in

"has assured us that they would provide a platform for Indian exports of products and would also impart specific training to our companies to understand the Chinese regulatory system and processes," the said.

has time and again made strong pitch to push its pharma exports in the neighbouring country. On the other hand, imports about 60 per cent of its requirement of raw material for the sector from China.

India's import of (API) from China stood at Rs 12,254.97 crore in 2016-17.

India's increased by about 3 per cent to USD 7.27 billion in 2017-18. While the exports to China stood at USD 182.67 million in 2017-18 only.

China is the second largest market for after the US.

Increasing exports to China would help bridge the widening trade deficit, which has increased to USD 63.12 billion in 2017-18 from USD 51.08 billion in the previous fiscal.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 12 2018. 16:00 IST