Pharmaceutical Exports from India

Introduction

The Indian pharmaceuticals market is the third largest in terms of volume and the 13th largest in terms of value. It has established itself as a global manufacturing and a research hub. A large raw material base and the availability of skilled workforce gives the industry a definite competitive advantage. The Indian pharmaceutical industry is expected to grow at a compound annual growth rate (CAGR) of 22.4% to touch US$ 55 billion by 2020.

The Indian pharmaceuticals market is dominated by generic drugs which constitute nearly 70% of the market, whereas over the counter (OTC) medicines and patented drugs make up to 21% and 9%, respectively.

India plans to set up a nearly Rs 1 lakh crore (US$ 1.3 billion) fund to boost companies to manufacture pharmaceutical ingredients domestically by 2023.

India Pharma Exports and Advantage India

• India is one of the largest supplier of generic medicines globally (20 to 22% of the global export volume)
• The total drugs & pharmaceuticals export during April 2021 to August 2021 was US$ 9.92 billion.
• The total drugs & pharmaceuticals export in FY21 was US$ 24.44 billion and for the month of March 2021 it was US$ 2.30 billion.
• During April 2021 to August 2021 India exported US$ 1.37 billion of bulk drugs & drug intermediates.
• India has exported US$ 3.89 billion of bulk drugs & drug intermediates in FY20 and US$ 4.43 billion in FY21.
• In August 2021, export of drugs & pharmaceuticals stood at US$ 2.0 billion as compared to US$ 1.97 in August 2020.
• India has one of the lowest manufacturing costs in the world. It is lower than that of USA and almost half of Europe.

Pharmaceutical Export Promotion Council

The Pharmaceutical Export Promotion Council (PHARMEXCIL) was established in 2004 by the Ministry of Commerce and Industry, Government of India, to promote pharma export.

Source:

• Directorate General of Commercial Intelligence and Statistics
• EXIM Analytics

Note:

* - Includes Bulk Drugs, Drug Intermediates, Drug formulations, Biologicals, Ayush and Herbal Products and Surgical