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<\/p>\nIndian pharmaceutical firms foresee minimal disruptions in trade with Israel despite escalating regional tensions.<\/p>\n
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Rising crude prices and export shipping insurance premiums have raised concerns, but the pharmaceutical sector remains optimistic.<\/p>\n
Pharmaceutical exports from India to Israel in FY 2020-21 amounted to $32.5 million, which represents only a minor segment of India’s overall pharma exports.<\/p>\n
“India’s expansive export market covers over 200 countries, with Israel being a modest component of it,” noted Gagan Manchanda, Co-founder & CEO of health-tech firm Positive Gems.<\/p>\n
Bilateral merchandise trade between the two nations touched $10 billion in FY 2022-23, with pharmaceutical exports from India accounting for $92 million.<\/p>\n
The Indian embassy in Tel Aviv indicates that India ranks as Israel’s second-largest trade ally in Asia and the seventh-largest worldwide.<\/p>\n
Sun Pharmaceuticals, an Indian pharma giant, holds a 78.48 per cent stake in Israel’s Taro Pharmaceutical Industries.<\/p>\n
Given the conflict, there’s anticipation of potential disruptions in Taro’s functions, as staff might be summoned for military service in the Israeli defence forces.<\/p>\n
However, Sun Pharma has yet to issue any statements on this matter.<\/p>\n
Nikkhil K Masurkar, CEO of Entod Pharmaceuticals, commended the resilience of Israel’s robust and well-regulated pharmaceutical sector, which has demonstrated its stability during previous conflicts.<\/p>\n
“The current turmoil could amplify Israel’s demand for crucial medicines and further cement the pharmaceutical bond between the two nations.<\/p>\n
Simultaneously, India might be poised to cater to a significant rise in pharmaceutical demands from the Palestinian territories,” Masurkar suggested.<\/p>\n
While the industry predicts an increase in medicine demand due to the crisis, it doesn’t anticipate a significant spike in exports.<\/p>\n