India Revises Pharma Import Monitoring Fees to Boost Compliance

The Foreign Trade Policy (FTP) 2023's Appendix 2K has been updated by the Directorate General of Foreign Trade (DGFT), requiring pharmaceutical imports and exports to pay a registration fee through the Import Monitoring System (IMS).  The objective of this action is to improve traceability, policy compliance, and transparency in the pharmaceutical trade ecosystem of India.

IMS is a critical instrument for detecting import trends and verifying product quality and authenticity.  This system is improved by the imposition of a registration fee, which formalizes trade flows and deters anomalies in import-export operations.  A digital service that guides customers to a payment gateway via the e-Miscellaneous Payments System (eMPS) has been activated by DGFT on its webpage to facilitate deployment. Debit/credit cards, UPI, or net banking can all be used to make payments.

 According to the updated policy, the application price is non-refundable and covers processing costs, with the exception of excessive payment, incorrect payments made by exempt applicants, and applications not being submitted after payment.  India's drive for business-friendly regulations and modernization is reflected in this policy change.  Additionally, it enhances the industry's global competitiveness, improves supply chain integrity, and lessens dependency on non-compliant APIs—all of which are crucial given the present environment of increased pharmaceutical scrutiny globally.