Israel-Hamas war: The ongoing war between Israel and Hamas may affect the Indian Pharmaceutical Industry by disrupting exports to several countries in the Middle East and North Africa (MENA) region.
Economic Times quoted Pharma Industry experts and said that if the war continues beyond two weeks, it is likely to dent the flow of pharma exports to the region, and countries nearby. Indian Pharma products are majorly exported to countries like The UAE, Qatar, Saudi Arabia, Egypt, and Bahrain.
“India’s exports amount to a billion dollars per year in these countries,” one of the experts told Economic Times. The expert further added that the war would impact flight services to these countries and subsequently hit pharma exports from India.
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India does not have major exports to the Gaza strip and Israel is self-sufficient in terms of Pharma and so the regions to which exports will get impacted will be MENA region.
“The entire spectrum of the industry-small, medium and large-scale industry-is going to get impacted if the situation continues,” an expert at a pharma advocacy group told Economic Times.
India supplies paracetamol to injectables and therapies to these countries in bulk.