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India's Pharma Exports Cross 17 Billion dollar

India's Pharma Exports Cross 17 Billion dollar


Hyderabad, 5 May 2018: India’s pharmaceutical exports have shown a smart turnaround in the last few months, with Europe and other key markets gaining traction and making up for slowdown in North America, an issue that would be brain-stormed at the forthcoming ‘iPHEX’ annual event of the apex industry body Pharmexcil.

 

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 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.

 

“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,” said director general of the Pharmaceuticals Export Promotion Council of India (Pharmexcil) Ravi Uday Bhaskar.

 

He said, regulators from as many as 120 countries, including from the US, Europe, would be participating in the ‘iPHEX’, beginning May 8 in New Delhi. “We will engage with the buyers, distributors and the regulators. Several key regulators will make presentations before the exporting firms about the fast moving changes in compliance parameters and stricter specifications. This would help our exporters to upscale their quality and other standards,” said Bhaskar.

 

About 350 exhibitors and 600 overseas buyers would participate in the event that will also witness 10,000 business visitors. Commerce and Industry Minister Suresh Prabhu would inaugurate ‘iPHEX’ that will open on May 8 and conclude on May 10.

 

The US and the entire North America is the key market for Indian pharmaceutical industry. The region contributes over 31 per cent to the total exports. The CIS region has topped the list by growth, expanding by 17 per cent, though the base is low.Telangana Today