Govt Warns Pharma Exporters Of Payment Delays From Egypt Firm Biomed

2025-09-14 03:15:52

(MENAFN- Live Mint) New Delhi: The Indian embassy in Cairo has issued a cautionary trade advisory to all Indian pharmaceutical exporters regarding Biomed For Pharmaceutical Industries, an Egyptian firm. They have been advised to seek advance against export orders, said two officials aware of the development.

The advisory has been put in public domain by Pharmexcil-India's pharmaceuticals export promoting council-highlighting the details.

According to the advisory, several Indian companies have reported significant delays in receiving payments from Biomed despite them having fulfilled their shipment deliveries.

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“Egypt remains a key trading partner in Africa, a continent that accounts for a significant portion of India's pharma exports,” said an official familiar with the matter. Such advisories serve as an early warning system, providing actionable intelligence on potential risks such as unstable political climates, legal disputes and financial irregularities, the official added.

“This information empowers Indian exporters to conduct thorough due diligence and mitigate potential losses... Recovering payment in a foreign country can be both difficult and expensive, often requiring significant time and legal resources,” said a second person in the know.“The embassy's recommendation to demand advance payments for shipments is a direct measure to safeguard against these risks and ensure the financial security of Indian exporters,” the person added.

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India holds a 20% share of total global pharmaceutical exports, and is the world's top supplier of generic medicines by volume.

The United Nations' COMTRADE database shows India's pharmaceutical exports to Egypt were valued at $42.74 million in 2024.

Queries sent to Pharmexcil and Biomed For Pharmaceuticals remained unanswered till press time.

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