India’s Pharmaceutical Exports Continue to Grow

By admin • May 14th, 2010

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The pharmaceutical industry in India is showing no signs of slowing down and continues to grow at an impressive rate. Pharmexcil (Pharmaceutical Export Promotion Council) has reported growth rates between 4-8% for exports in the Pharmaceutical Industry during 2009-10 based on current trends. These growth rates are encouraging signs of the industries strength as other sectors were not experiencing similar positive growth for exports during the same period.

The chairman of Phamexcil Smitesh Shah said “Considering the financial meltdown last year, it can be said Indian pharmaceutical sector has weathered the slowdown well. Due to the slowdown, companies in importing countries used inventory and avoided fresh orders”.

In the last few years the industry has seen growth rates of 8-10% and the exports of drugs, pharmaceuticals and fine chemicals could well reach $9 billion (Rs 40,600 crore) in 2009-10. Each year the industry has recorded growth on the previous year. In 2007-08 exports were $7.6 billion (Rs 34,400 crore) and in 2008-09 exports were $8.6 billion (Rs 38,700 crore), an increase of 12%. India’s pharmaceutical exports are largely made up from the USA who account for about 20% of total pharmaceutical exports. The USA has been a major contributor to the growth of the industry in recent years. Other countries who have contributed to the growth are the UK, Germany, Vietnam, Russia and Thailand.

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The pharmaceutical industry in India is showing no signs of slowing down and continues to grow at an impressive rate. Pharmexcil (Pharmaceutical Export Promotion Council) has reported growth rates between 4-8% for exports in the Pharmaceutical Industry during 2009-10 based on current trends. These growth rates are encouraging signs of the industries strength as other sectors were not experiencing similar positive growth for exports during the same period.

The chairman of Phamexcil Smitesh Shah said “Considering the financial meltdown last year, it can be said Indian pharmaceutical sector has weathered the slowdown well. Due to the slowdown, companies in importing countries used inventory and avoided fresh orders”.

In the last few years the industry has seen growth rates of 8-10% and the exports of drugs, pharmaceuticals and fine chemicals could well reach $9 billion (Rs 40,600 crore) in 2009-10. Each year the industry has recorded growth on the previous year. In 2007-08 exports were $7.6 billion (Rs 34,400 crore) and in 2008-09 exports were $8.6 billion (Rs 38,700 crore), an increase of 12%. India’s pharmaceutical exports are largely made up from the USA who account for about 20% of total pharmaceutical exports. The USA has been a major contributor to the growth of the industry in recent years. Other countries who have contributed to the growth are the UK, Germany, Vietnam, Russia and Thailand.

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