HS Code Guide · EPM Subvention
HS Code 300490 Meaning — Medicaments, therapeutic/prophylactic, retail packs: Global Trade, India & Factoring Guide
HS 300490 covers medicaments, therapeutic/prophylactic, retail packs. This guide explains what the code includes, its global trade, India's position, how GIFT City helps factor it, and whether MSME factoring qualifies for the 2.75% interest subvention.
What this HS code covers
HS 300490 sits in 30 — Pharmaceutical products. Official tariff description: “Medicaments; consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale” In plain terms, it covers medicaments, therapeutic/prophylactic, retail packs. Classification decides duty and documents; this 6-digit line is in the DGFT positive list (Trade Notice 25/2025-26 Annex V), so MSME factoring under it qualifies for the 2.75% subvention — details below.
What is HS 300490?
HS 300490 is the catch-all for finished formulations — tablets, capsules, syrups, creams, etc., packaged for retail sale — not classified in 300410–300460 (penicillins/hormones etc.). It's the main line for generic medicines exports.
Official description: Medicaments; consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
What HS 300490 does in trade
- Captures most generic pharma exports from India — the line regulators and factoring banks recognise for finished-dose trade.
- Is in the positive list — MSME pharma exporters factoring 300490 receivables can claim 2.75% on the interest element.
- Requires strict docs: drug registration in destination, GMP/CoPP, so factor credit checks weigh buyer and regulatory risk.
Global perspective — where HS 300490 moves
World finished-medicine trade ~US$600B. Generics dominate volume, brands dominate value. Regulatory access (US FDA, EMA) decides market entry. 300490 is the highest-volume pharma HS globally.
| Top global exporters | Top global importers |
|---|---|
| Germany | United States |
| Switzerland | Germany |
| India | Belgium |
| United States | United Kingdom |
| France | China |
India's stance on HS 300490
India is the 'pharmacy of the world' — #3 by volume, #1 generics exporter, ~US$27B pharma exports. MSME clusters in Hyderabad, Ahmedabad, Mumbai and Indore drive 300490 volumes. US, EU, Africa and ASEAN are key markets; DGCI/CDSCO and Pharmexcil govern exports.
Export docs to watch
Pharma needs CDSCO export NOC, Pharmexcil RCMC, CoPP/GMP, and destination registration. Batch, expiry and cold-chain docs must be clean — discrepancies block collections.
GIFT City — factoring HS 300490 in foreign currency
Pharma receivables are often USD/EUR to regulated markets — GIFT City foreign-currency factoring pairs well with 60–120 day terms and retains the 2.75% benefit alongside credit insurance.
Trad can route eligible invoices via an IFSCA-regulated IBU or Finance Company/Finance Unit undertaking factoring in GIFT City. The 2.75% subvention is identical whether you factor via India (RBI-regulated) or GIFT City (IFSCA-regulated) — the choice is about currency, banking relationship and buyer location, not the benefit rate.
Common financing stack for this HS
Factoring advances 70–90% in 24–48 hours after invoice verification; balance minus discount/fees on buyer payment. Works alongside packing credit — factoring covers the post-shipment open-account gap.
MSME subvention — is HS 300490 eligible for 2.75%?
Yes — HS 300490 is in the positive list (Trade Notice 25/2025-26 Annex V). MSMEs involved in international value chains with a valid active IEC (not in DEL) and valid Udyam can claim 2.75% per annum on the factoring interest cost element when factoring via an RBI/IFSCA-regulated entity.
| Check | For HS 300490 |
|---|---|
| In positive list (HS-6) | Yes — 300490 listed in Annex V |
| Benefit | 2.75% p.a. on interest cost element |
| Annual cap | ₹50 lakh per MSME per FY |
| Valid from | Prospectively from 20 Feb 2026 |
| Need UIN per factor? | Yes — declaration of intent before factoring, valid till FY-end |
| Eligible factors | RBI-regulated (AD bank / factoring NBFC) or IFSCA-regulated (GIFT IBU/FC) |
| Not covered | Deemed exports (FTP Ch.7) & exports to SEZs |
Eight-digit HS? Use first 6 digits
Eligibility is at HS-6. If your 8-digit HS (e.g. 30049010) starts with 300490, it inherits this eligibility. Verify on the HS checker — enter 6 or 8 digits.
Check HS 300490 — free
Verify any 6 or 8-digit HS against the DGFT positive list and see the 2.75% factoring eligibility in seconds.
Open HS checkerFrequently asked questions
What is HS 300490 — Medicaments, therapeutic/prophylactic, retail packs?
HS 300490 is the catch-all for finished formulations — tablets, capsules, syrups, creams, etc., packaged for retail sale — not classified in 300410–300460 (penicillins/hormones etc.). It's the main line for generic medicines exports.
Is HS 300490 eligible for the 2.75% interest subvention?
Yes. HS 300490 is in the DGFT positive list (Trade Notice 25/2025-26 Annex V, 4139 HS-6 lines). MSMEs factoring exports under this line via RBI/IFSCA-regulated factors can claim 2.75% per annum on the interest cost element, capped at ₹50 lakh per MSME per year, prospectively from 20 Feb 2026. Requires valid IEC (not in DEL), valid Udyam, and a UIN per factor obtained before factoring.
Who can claim the 2.75% for HS 300490 and how?
MSMEs (as defined by Ministry of MSME) with active IEC and Udyam, factoring eligible exports of HS 300490 via RBI/IFSCA-regulated entities. File a declaration of intent on the DGFT portal to get a UIN per factor (valid till FY-end), factor the invoice, the factor files monthly IEC-wise claims; subvention is credited to your IEC-linked bank account.
Can HS 300490 be factored via GIFT City?
Yes. IBUs and Finance Companies/Finance Units undertaking factoring in GIFT City (IFSCA-regulated) are eligible financial institutions under IFSCA circular 19 Mar 2026 and must extend the 2.75% benefit. Useful for USD/EUR receivables where you want foreign-currency factoring.
What does factoring for HS 300490 cost after subvention?
Indicatively, factoring discount/interest is priced commercially (often 8–12% p.a. depending on buyer, tenor, currency) plus factoring fee ~0.5–3% ⚠️. The 2.75% offsets only the interest element — e.g. a 9% interest cost becomes ~6.25% effective on that element if eligible. Fees/insurance/FX remain. Compare all-in cost.
Related HS codes
Compare HS 300490 with other MSME-export lines in the same chapter or family.
See all codes on the HS code guides hub, or read the 2.75% subvention deep-dive.