India to achieve US$ 15.5 billion pharma exports in FY 2012-13
Indian pharma industry is expected to export products worth US$ 15.5 billion in FY 2012-13.
New Delhi, January 17, 2013: India is aiming to export pharmaceuticals worth US$ 15.5 billion in FY 2012-13 during the 2012-13 fiscal registering a growth of 17 per cent as compared to exports worth US$ 13.22 billion in 2011-12. At the same time, it is believes that the target of US$ 25 billion for the pharma exports in 2013-14 will be tough, especially considering the global slowdown.
It is worth noting here that the health campaigns in Africa and many other countries have been slowed down which may impact growth of the Indian pharma industry. However, the Indian pharma industry is well poised to capture opportunities in the other areas like manufacturing ‘off patent’ products or products with expired patents, which has the potential to offset some of the decreases in orders.
It may be noted here that the European and American markets accounted for 55 per cent of the Indian pharmaceutical product exports, reflecting that most of these products were made to the highest specification of the US Food and Drug Administration (USFDA).
The Indian pharmaceutical industry has been growing at a compound annual growth rate of 15 per cent during 2006-07 and 2011-12.