Pharma exports registered a growth of 23 Percent in 2011-12
The pharma exports from India have grown at a CAGR of 16 per cent over the last five years.
New Delhi, December 12, 2012: The growing dominance of Indian pharmaceutical industry on the global landscape is evident from the fact that the Indian pharma exports have registered a growth of 23.34 per cent in the last financial year i.e. 2011-12, as per Pharmaceuticals Export Promotion Council of India (Pharmexcil).
“The exports growth story is one to be proud of. Total exports during the last five years have grown by 16 per cent CAGR. Growth during the last financial year 2011-12, was 23.34 per cent in dollar terms,” said Dr P V Appaji, Director General, Pharmexcil.
It is worth noting here that North America continues to be India’s best export destination with a 33 per cent growth during the last financial year.
In terms of value, the Indian pharmaceutical market is estimated at US$ 22 billion and stands third in terms of volume. India is the world’s largest exporter of generic formulations.
In order to promote Indian pharma sector, Pharmexcil is organising a three-day show in Mumbai next year where over 400 Indian pharmaceuticals firms are expected to showcase their products.
The Show ‘iPHEX 2013’ is being organised in Mumbai from April 24-26, 2013 under the support of Ministry of Commerce & Industry. It is expected that the Show will offer an opportunity for international buyers and regulators to come to India and evaluate the Indian pharma market.