New Delhi, March 6 -- Rising freight costs and geopolitical tensions are likely to impact Indian pharmaceutical exports to the Gulf and West Asia North Africa (WANA) regions, according to the Pharmaceuticals Export Promotion Council of India (Pharmexcil).
Namit Joshi, Chairman, Pharmexcil, said, The doubling of freight charges for both imports and exports, accompanied by surcharges of USD 4,000 USD 8,000 per shipment, has put substantial pressure on Indian pharmaceutical companies, BL reported.
Shipping Routes Face Uncertainty
Joshi said tensions in the Gulf region are creating uncertainty in key maritime and air cargo routes used for pharmaceutical shipments. Major routes such as the Red Sea, Strait of Hormuz and Gulf shipping corrid...