India Pharma Exports Touch $10.3bn
Pharmaceutical exports from India have grown by 15% to $10.3 billion for 2010-2011. Provisional data for this period shows the sector has recovered substantially, as the previous growth rate for 2009-2010 was only at 5% with a value of $8.8 billion.
In terms of countries, India’s largest export destination is still the USA followed by the UK, Germany, South Africa and Russia. Composition-wise, generics account for 58% of the exports, active pharmaceutical ingredients (APIs) 40% and ayurvedic/herbal/neutracueticals 2%.
One of the major elements which is thought to have contributed to the growth, is the economic improvement of developed countries. The global crisis a few years ago had a significant impact on the pharmaceutical sector in India, but now the situation has improved and this has been reflected in the figures. In terms of future growth, it is expected that demand from Africa may increase this year, as exports to Africa also slowed down due to outside circumstances.