Indian pharma exports touch record $24.44 bn in pandemic year; see 18.07% growth
North America is the largest exporting region for India with more than 34 per cent share. Country wise exports to USA, Canada and Mexico recorded growth of 12.6 per cent, 30 per cent and 21.4 per cent respectively
Joe C Mathew | April 17, 2021 | Updated 16:18 IST
Pharma exports see 18.07% growth
Indian pharmaceutical exports have registered a record growth in the pandemic year (2020-21), bucking the global trend of 1-2 per cent negative growth in 2020.
As per the quick estimates of the Department of Commerce, drugs and pharmaceutical exports for the FY-21 (Apr 2020 - Mar 2021) touched $24.44 billion, a record growth of 18.07 per cent. Exports during FY 2020 was $20.58 billion with growth rate of 7.57 per cent.
Indian pharma exports grow at 18 percent to 24.44 bn in FY 21
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Synopsis We have observed a big leap in our exports in the month of March 2021 which is USD 2.3 billion (figures for March are provisional) and is highest among the exports of all the months of this financial year, the growth rate for this month is 48.5 per cent against the exports in March 2020 (USD 1.54 billion), Udaya Bhaskar, Director General of Pharmexcil said in a release.
AP
North America is the largest exporting region for Indian pharmaceuticals with more than 34 per cent share.
India has reported a growth of 18.07% in pharmaceutical exports that touched an all-time high of $24.44 billion during the fiscal ended March 2021, up from $20.58 billion in the previous fiscal.
April 17, 2021
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Highest growth in eight years on rising demand for quality and affordable generics
India’s pharmaceutical exports grew at a record 18 per cent to reach $24.44 billion in the year ended March 31, 2021, as a result of the Covid-19 pandemic. This was the highest export growth rate in the last eight years for the pharma industry.
“As per the quick estimates shared by the Department of Commerce, drugs and pharmaceutical exports for FY21 (April 2020-March 2021) have touched $24.44 billion with a record growth of 18.07 per cent,” said Ravi Udaya Bhaskar, Director-General, Pharmaceuticals Export Promotion Council of India, on Saturday. The exports in FY20 totalled $20.58 billion with a growth rate of 7.57 per cent.