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India - Peru - Free Trade Agreement
 

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PXL/HO/Cir-102/2017-18                                                                                                                            Date: 29.12.2017

 
To,

All the Members of Council,

Dear Sir/Madam,


Subject: India - Peru - Free Trade Agreement

 

Government is negotiating FREE TRADE AGREEMENT with PERU. Pharmaceuticals trade is a part of this agreement.

 

Currently Peru does not impose any duty on our Bulk drug exports under chapter 29, while we impose 7.5% import duty on their exports, if any, of the same to India.

 

Peru imposes 6% duty on imports from India on some of the finished dosage formulations and impose no duty on the rest, while India imposes 10%. Negotiations can also be made to make the present 6% to zero on finished dosages exports also.

 

We are imposing the same duty structure on most of our major importing partners especially China.

 

Following are India's exports to Peru.

 

India's Exports Of Pharmaceuticals to  PERU in $mn

Category

2014-15

2015-16

2016-17

GR%

contbn%

BULK DRUGS AND DRUG INTERMEDIATES

11.05

14.78

14.65

-0.86

28.78

DRUG FORMULATIONS AND BIOLOGICALS

25.95

30.66

29.95

-2.32

58.84

AYUSH

0.01

0.08

0.01

-84.53

0.03

Herbal Products

0.13

0.04

0.00

-96.87

0.00

Surgicals

1.37

1.34

1.62

20.80

3.19

Vaccines

10.96

15.93

4.66

-70.76

9.16

Total

49.47

62.83

50.89

-19.00

100.00

 

During the negotiations, Peru might request India also to lower the import duty and offer the same benefit as we are enjoying/negotiating.

 

Current global scenario regarding Trade pacts are fast changing. Peru, simultaneously is entering into agreement with various countries and/or Group of countries including China, Colombia, Mexico etc. some of which are strong manufacturers of KSMs and/or drug intermediates.

 

India has no imports from Peru at present. However, any negotiation with Peru (lowering our  import duty from the present level) might indirectly benefit any of those countries with which Peru has an FTA  as they can export through Peru availing those benefits.

 

Government has requested us to collate the industry's opinion the likely impact of such a situation on our domestic industry.

 

We are enclosing the details of India's exports to Peru HS Code wise of Chapter 29 & 30 and also Peru's imports from world and Peru's exports as received from the government.

 

We request your inputs in this regard. Please treat this request as of Top priority and send us your inputs at least by 10th Jan 2017 to stats@pharmexcil.com.

 

Yours Sincerely,

Udaya Bhaskar

Director General

Encl: list

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