India exports pharmaceutical products to North America, Africa, the EU, ASEAN, Latin America & Caribbean (LAC), the Middle East, Asia, CIS, and other European regions. Nearly two-thirds of India’s exports go to NAFTA, Europe, and Africa. The top five export destinations for Indian Pharma Industry in 2022-23 were the USA, Belgium, South Africa, the UK, and Brazil.
The US, Belgium, and South Africa were among the largest importers from India at a share of 29.72%, 2.82%, and 2.59%, respectively during 2022-23. India’s exports of pharma products to these countries in FY23 were: USA with US$ 7.54 billion, Belgium with US$ 714.92 million, South Africa with US$ 657.0 million, the UK with US$ 647.68 million, and Brazil with US$ 642.67 million. India’s pharma exports to the USA in value grew at a CAGR of 6.18% over the last year. Additionally, for Belgium and South Africa, it grew at a CAGR of 59.2%, and 7.23%, respectively over the same period.
As of April 2023, the number of USFDA-approved sites (bulk drugs and formulations) stood at 703. Additionally, the number of DMFs (Type ii Active) filed by the Indian firms till January 2023 stood at 4,505. USFDA inspections were not conducted during the last couple of years due to the COVID-19 pandemic, however, the inspections have started happening now and are expected to further increase Indian exports to the USA.