All major markets show good growth, says Pharmexcil DG Uday Bhaskar Pharmaceutical exports have raced past the $11-billion mark in the first 7 months of this fiscal. Exports stood at $17.27 billion in FY18. “If the trend continues, we will cross $20 billion, [or] at least $19 billion,” Pharmaceuticals Export Promotion Council of India director general Ravi Uday Bhaskar said . A crucial component of foreign trade, pharma exports in April-October period were about $1.1 billion higher compared to the year earlier period. The $17.27 billion achieved in 2017-18 remains the highest and came despite an 8% contraction in the U.S. In FY17, exports were $16.78 billion. About a third of India’s pharma exports are to the U.S.. Europe, with about 15% and Africa at 17% are the other major export markets. “Almost all major markets are showing good growth,” Mr. Bhaskar said on the sidelines of a workshop on regulatory practices in China organised by Pharmexcil and China Cinopharma Ltd. “Exports to U.S. have [grown] 14% in the first 7 months,” he said, adding this came on the back of prices stabilising in that market though margin erosion remains a concern.He expected the pharma exports to pick up pace after Christmas.
Exports to China reached $200 million in FY18, from $145.45 million in FY17. For FY19, he said, “We have already crossed $123 million.” Pharmexcil chairman Dinesh Dua said China, as a supplier of key starting raw materials and intermediates to Indian firms, has the potential to become a big market for India-made formulations. Firms ought to make the most of tariff reductions and some reguatory changes China has made, he said. He underscored the need for Indian pharma firms to explore China through joint ventures.
Source : The Hindu
Published on: December 19, 2018