Latin America new export destination: Pharmexcil
June 16, 2015: Latin America has been identified as one of the most aggressive regions for importing Indian drugs as per Pharma Export Promotion Council (Pharmexcil). The region posted a growth of 36 per cent in exports in the last couple of financial years with Argentina and Brazil taking the lead.
"Exports to Argentina and Brazil grew phenomenally in last few years as some of the hurdles in these countries with regard to formulations in the recent past have been resolved", stated Dr P V Appaji, Director General, Pharmexcil
The pharma industry achieved a drug export turnover of INR 90,000 crore in 2013-14 with the government expecting the figure to reach INR 1,00,000 crore in 2014-15.