India pharma exports to cross Rs 1 lakh crore
The Indian pharmaceutical industry exports are expected to cross Rs 1 lakh crore mark in 2014-15.
Hyderabad, September 17, 2014: Exports of the Indian pharmaceutical industry are expected to move up from Rs 90,000 crore in the previous financial year to breach the Rs 1 lakh crore mark in 2014-15, according to Dr P V Appaji, Director General of Pharmaceuticals Exports Promotion Council (Pharmexcil). He added that majority of the export revenues for the country are expected to come from formulations and the issues faced by the industry earlier are now under control.
It may be noted here that the companies which were exporting bulk drugs in the past shifted their focus to exporting formulations that accounted for 71 per cent of total exports in 2013-14. It is also important to note that India has around 584 USFDA approved centres across the country and out of the total formulations exports from India, close to 55 per cent are to the regulated markets.
The NPPA also said in the notice that such a step was also necessary for "monitoring the production and availability of scheduled formulations and the active pharmaceutical ingredients contained in the scheduled formulations, and monitoring the prices of non-scheduled formulations."
The registeration process is open till October 30, 2014 post which the data input facility will be made available to all the users for the online submission of reports.