India Inc India Inc: Monday, 14 May 2018 08:53

India’s pharma exports cross $17bn

 

India’s pharmaceutical exports have shown a strong turnaround in the last few months, with Europe and other key markets gaining traction and making up for the slowdown in North America. This issue was discussed at the ‘iPHEX’ annual event of the apex industry body Pharmexcil in New Delhi last week.

After remaining in the negative territory for the first five months of the financial year 2017-18, the pharmaceutical exports are increasing at a year-on-year pace since November 2017, despite the slowdown in the US for a combination of factors. Though the cumulative data for the fiscal year 2017-18 shows a modest 2.91 per cent growth to $17.27 billion from $16.78 billion in 2016-17, the annualised shipments have been increasing at a sharper rate, between seven and 14 per cent since November 2017.

Ravi Uday Bhaskar, Director General, Pharmaceuticals Export Promotion Council of India (Pharmexcil), said: “Good news is that the formulations and bulk drugs which together account for over 90 per cent of our pharma exports have shown a sharp turnaround, being led by several important markets including Europe.”

About 350 exhibitors and 600 overseas buyers participated in the event that also witnessed 10,000 business visitors.

'India Global Business’ has in-depth coverage on related topics.

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