Last Updated: January, 2021
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.
Export and Advantage India
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:
Note:
* - Includes Bulk Drugs, Drug Intermediates, Drug formulations, Biologicals, Ayush and Herbal Products and Surgicals
**-Till October 2020
Source:
Directorate General of Commercial Intelligence and Statistics (DGCIS)
Other Export Promotion Councils:
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
101, Aditya Trade Centre
Ameerpet
Hyderabad - 500038
Andhra Pradesh
India
Tel.:+91-40-23735462/66
Fax: +91-40-23735464
Email: info@pharmexcil.com
Website: www.pharmexcil.com
Source:
Directorate General of Commercial Intelligence and Statistics (DGCIS)
Pharmaceutical