Indian Economy News

Indian pharma exports rise by 4.22% to US$ 14.57 billion during April-October

  • IBEF
  • November 28, 2022

India's pharmaceutical exports increased by 4.22% to reach US$ 14.57 billion from April to October, according to Mr. Udaya Bhaskar, Director General of the Pharmaceuticals Export Promotion Council of India (Pharmexcil). The exports brought in US$ 13.98 billion during the same period previous fiscal.

He expressed optimism that the current fiscal year would end with approximately US$ 27 billion as opposed to US$ 24.62 billion in the previous fiscal year.

67.5% of all exports, or nearly US$ 5 billion, are made to the NAFTA nations of the US, Canada, and Mexico, as well as to Europe and Africa.

Exports decreased by 5.45% in October to US$ 1.95 billion.

According to data recently issued by the Ministry of Commerce, India's overall exports decreased by 16.65% to US$ 29.78 billion in October 2022 as compared to the same time in the previous year. Exports increased by 12.55% to US$ 263.35 billion between April and October, 2022.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.