India’s Expopharm Absence: How Restrictive Trade Practices Cost the “Pharmacy of the World” a Billion-Dollar Opportunity

Indian exporters lament that India missed out on significant business opportunities at Expopharm 2025, Europe’s largest pharmaceutical trade fair, due to a combination of restrictive international and domestic practices. Multinational corporations (MNCs) enforce a double standard by allowing European wholesalers to freely trade products for parallel distribution while requiring drugs sold in India to be labeled “For Sale in India Only,” effectively blocking Indian exporters from the global market.

This disadvantage was compounded by India’s own Central Drug Regulator (CDSCO) halting the issuance of crucial No Objection Certificates (NOCs) for exports. This perfect storm of restrictive practices prevents Indian wholesalers from participating in a multi-billion dollar legitimate trade, costing the nation substantial export revenue, diminishing its global trading stature, and undermining its “Pharmacy of the World” brand, highlighting an urgent need for diplomatic pressure and regulatory reform to ensure a level playing field.

India’s Expopharm Absence: How Restrictive Trade Practices Cost the “Pharmacy of the World” a Billion-Dollar Opportunity 

As the curtains fell on Expopharm 2025 in Düsseldorf this week, the air was thick with the buzz of sealed deals and new partnerships. European wholesalers, parallel traders, and global pharma giants celebrated transactions estimated at over $1 billion. Yet, amidst this global congregation of pharmaceutical commerce, one voice was conspicuously absent, and one nation’s potential remained glaringly untapped: India. 

While the world’s largest democracy proudly wears the mantle of the “Pharmacy of the World” for its life-saving generic medicines and vaccine manufacturing prowess, a different, more frustrating reality is unfolding in the high-stakes arena of global pharmaceutical trade. Indian exporters are watching from the sidelines, lamenting a systematic exclusion from a multi-billion dollar market, not due to a lack of quality or capacity, but because of restrictive trade practices and a regulatory environment that seems to work against their interests. 

The Expopharm Stage: A Glimpse into a World of Opportunity 

To understand the scale of what India missed, one must first understand Expopharm. It is not just another trade show; it is the nerve center of European pharmaceutical distribution. This year’s event, from September 16-18, attracted over 22,000 professionals—wholesalers, parallel traders, regulators, and C-suite executives from across the globe. 

The core of Expopharm’s business revolves around three critical areas: 

• Parallel Trade: The legal practice of sourcing patented medicines from countries where they are sold at lower prices (often due to government price controls) and distributing them in higher-priced markets within the European Union. This arbitrage is a multi-billion euro industry itself. 

• RLD (Reference Listed Drug) Sourcing: Securing reliable supplies of originator products for bioequivalence studies and regulatory submissions. 

• Addressing Drug Shortages: A growing crisis in Europe and North America, where wholesalers play a vital role in sourcing emergency supplies of scarce medicines from anywhere in the world. 

For any player in pharmaceutical distribution, a presence at Expopharm is non-negotiable. It is where relationships are forged, supply chains are built, and the year’s largest deals are initiated. 

The Cruel Irony: A Double Standard in Global Trade 

Here lies the central paradox frustrating Indian exporters. Many of the same Multinational Corporations (MNCs) that happily supply European wholesalers for this very parallel trade impose a draconian restriction on their operations in India. They mandate that products sold in the Indian market be labeled with a stark disclaimer: “For Sale in India Only” or “Not for Export.” 

This practice, while defended by companies as a measure to prevent diversion and manage regional pricing, effectively acts as a non-tariff trade barrier. It is a deliberate strategy to segment the market and protect high-profit margins in Western countries by ensuring cheaper Indian supplies do not leak into their territories. 

An industry expert explains the fallout: “An Indian wholesaler, who has legally purchased a product from an MNC’s Indian subsidiary, cannot legally re-export it. If they try, they face legal action for trademark or contract violation. Meanwhile, a German wholesaler can buy the same product from the MNC in Spain and freely sell it in Germany. The Indian player is barred from participating in a legitimate, legal global market that their European counterparts profit from daily.” 

This isn’t just a theoretical concern. It is a direct impediment to business. Indian merchant exporters, who have the networks and the expertise to become major players in global pharmaceutical trading, are systematically shut out. 

The Domestic Blow: CDSCO’s NOC Withdrawal Compounds the Crisis 

Just as the international practices stacked the odds against them, Indian exporters were dealt another severe blow from home. The Central Drugs Standard Control Organisation (CDSCO), India’s national drug regulator, has recently stopped issuing No Objection Certificates (NOCs) for the export of certain branded drugs. 

The NOC process was originally designed as a check to prevent the counterfeiting and illegal diversion of drugs. However, its abrupt cessation, without a clear alternative framework, has created a regulatory vacuum. Even if an exporter were to find a way to navigate the MNCs’ restrictive labeling, they now lack the crucial document required by Indian customs to ship these medicines abroad. 

A senior representative from a prominent pharmaceutical trade body expressed the collective despair: “The message from both ends is clear: ‘Stay out.’ The MNCs say we cannot sell their products abroad, and our own regulator has made it administratively impossible to try. We are being caged in our own home market. At a time when we should be leveraging our position to become a global trading hub, we are instead being demotivated and weakened.” 

The Real Cost: Billions in Lost Revenue and Diminished Global Stature 

The cost of this exclusion is not abstract; it is quantifiable. The estimated $1 billion in business transacted at Expopharm is just the tip of the iceberg. It represents annual supply contracts that will be fulfilled over the coming year. 

“India is potentially losing out on billions of dollars in annual export revenue,” the trade representative added. “This isn’t just about merchant profits. This is about lost foreign exchange, missed job creation in the logistics and export sectors, and a failure to fully capitalize on the ‘Pharmacy of the World’ brand. We have the capacity, the expertise, and the competitive advantage. What we lack is a level playing field and supportive policies.” 

Beyond the financial loss, there is a strategic cost. By absenting themselves from such pivotal forums, Indian businesses miss out on the intelligence gathering, relationship building, and market sensing that occurs at these events. They become less agile, less connected, and ultimately less competitive on the world stage. 

The Path Forward: Reclaiming India’s Rightful Place in Global Pharma Trade 

Addressing this imbalance requires a multi-pronged approach, combining diplomatic pressure, regulatory reform, and industry advocacy. 

• Diplomatic and Trade Negotiations: The Government of India must take up this issue vehemently at bilateral and multilateral trade forums. The double standard of MNCs—allowing parallel trade in Europe while blocking it from India—needs to be framed as an unfair trade practice. It is a direct contradiction to the principles of free and fair trade that these same corporations advocate for elsewhere. 

• Regulatory Reforms at CDSCO: The regulator must swiftly clarify its stance on the NOC for exports. Instead of a blanket stoppage, it should work with industry stakeholders to develop a modern, transparent, and digital system that ensures drug safety without crippling legitimate trade. The goal should be to facilitate exports, not hinder them. 

• Empowering Industry Bodies: Associations like Pharmexcil need to be empowered to champion the cause of exporters, providing them with data and case studies to lobby effectively with the government. Collective bargaining against MNCs’ restrictive practices could also be a potential avenue. 

• Exploring Legal Avenues: A thorough legal examination of whether the “For Sale in India Only” clause violates any Indian competition or antitrust laws could provide a powerful tool to challenge this practice domestically. 

Conclusion: A Wake-Up Call from Düsseldorf 

The echoing halls of Expopharm 2025 have served as a stark wake-up call. The event was a vibrant display of a globalized, efficient pharmaceutical market from which India, a nation capable of supplying over 60% of the global vaccine demand, was largely absent as a trader. 

Being the “Pharmacy of the World” cannot be limited to manufacturing alone. It must encompass leading in global trade, logistics, and supply chain innovation. The missed opportunity at Expopharm is a symptom of a larger disease: a ecosystem still grappling with outdated policies and unfair international practices. 

For India to truly claim its title and harness its full economic potential, it must fight for its right to trade. It must demand fairness from multinational players and, more importantly, it must build a regulatory framework that acts as a launchpad for its exporters, not an anchor. The world is trading, and India must not just supply—it must sell, compete, and win on the global stage. The next Expopharm in 2026 must tell a different story.