Pharmexcil Engages ASEAN Nations to Boost Pharma Trade Ties

India is growing efforts to extend pharmaceutical trade with Southeast Asia as the Pharmaceuticals Export Promotion Council of India (Pharmexcil) initiates high-level engagements with strategic ASEAN nations, including Vietnam, the Philippines, and Malaysia. This strategic outreach purposes to increase exports and strengthen direct collaboration in one of India’s most vibrant trading regions.

ASEAN funded 11 percent of India’s global trade in 2023 to 24, valued at USD 122.67 billion. Vietnam, currently restructuring its healthcare system, has greeted Indian collaboration to address regulatory postponements and limited valuation capabilities for advanced drugs. Over 70 Vietnamese firms have participated in B2B meetings with Indian pharma exporters expressing their interest.

India has renewed its MoU with the Philippine Pharma Procurement Incorporation (PPPI), confirming continued cooperation in drug supply of government procurement. The MoU highlights India’s increasing importance as a reliable supplier for essential medicines in public healthcare systems.

Meanwhile, Malaysia is facing medicine shortages, especially in oncology, stimulating interest in Indian pharmaceutical products. Pharmexcil controlled an allocation for B2B meetings with 150 local firms and held strategic discussions with Malaysia’s National Pharmaceutical Regulatory Agency (NPRA) to streamline approval processes and explore fast-track clearance options.

India is also working with ASEAN to inform the ASEAN-India Trade in Goods Agreement (AITIGA) by 2025 to address trade inequities and improve market access for Indian pharma products. Combined with connectivity advantages under the India-ASEAN primary Plan, these efforts signal a strong, forward-looking partnership set to transform India’s pharma presence across Southeast Asia.