The domestic generic drug market in India is expected to grow at a compound annual growth rate (CAGR) of 16.3 per cent to reach US$ 27.9 billion by 2020, according to a recent joint study from Assocham and RNCOS. Generics are expected to account for 85 per cent share in the domestic pharma market by 2020, driven by affordable labour and patent cliff of blockbuster drugs. US is the single-largest export destination, accounting for nearly 28 per cent of domestic pharmaceutical exports, followed by the European Union (18 per cent) and Africa (17 per cent), according to the study. It is important to note here that Brand India Pharma will be present in its full strength at CPhI Worldwide, one of the largest pharmaceutical events across the globe, scheduled to be held from October 13-15, 2015 at Fiera de Madrid, Spain. Do visit the Brand India Pharma website (www.brandindiapharma.in) for regular updates about India’s participation at CPhI Worldwide 2015.
In another significant development, the Reserve Bank of India (RBI) has allowed resident importers to raise trade credit in rupees, provided that they enter into a loan agreement with a foreign lender. The trade credit period for import of capital goods can be up to five years from the date of shipment and no rollover or extension can be permitted by a bank beyond the permissible period, according to the Central Bank.
Ravi Capoor, IAS
Chief Executive Officer
India Brand Equity Foundation