Breaking News

You are here » Indian-Commodity  :  Economy  :  India's pharmaceutical exports rise 3% to $17.3 billion in FY18

10-Aug2018

India's pharmaceutical exports rise 3% to $17.3 billion in FY18

The commerce ministry in its latest data has showed that India's pharmaceutical exports rose only 3% to $17.3 billion in last financial year (FY18) as compared to $16.7 in FY17, while in financial year 2016 exports were $16.9 billion. The marginal rise in exports was on account of increasing regulatory concerns and pricing pressures in the global markets, including the US. Besides, import alerts by the US Food and Drug Administration, regulatory hurdles and currency fluctuation also contributed to slow growth in the overseas shipments.

The sector accounted for about 6% in the country's total exports of $303 billion in last financial year (FY18). It is one of the top five sectors in the exports segment. Generic drugs form the largest segment of the Indian pharmaceutical sector, with 75% market share (in terms of revenues). Over 55% of India's exports go to highly regulated markets.

India supplies 20% of global generic medicines in terms of volume, making the country the largest provider of generic medicines globally. The US is the top destination for Indian pharma exports, followed by the UK. America accounts for about 25% of the country's shipments. The other important destinations include South Africa, Russia, Nigeria, Brazil and Germany. Additionally, the government is working on measures to promote exports in Japan and China, tough registration and regulatory procedures there act as hindrance for domestic exporters.


Related News

View all news

Govt need to consider permitting 100% FDI in multi-brand retail trade: CII

In order to promote growth in multi-brand retail trade, industry body the Confederation of Indian Industry (CII) in its latest report has stated that the government should consider permitting 100% foreign......

Direct tax collections jumps 15.7% in first eight months of FY19

The finance ministry stated that the income tax department has collected Rs 6.75 lakh crore in gross direct tax, comprising personal income tax (PIT) and corporate income tax (CIT), during the April-November......

Govt makes 60% pension withdrawal tax free

Detailing on taxability of fund under National Pension Scheme (NPS), the government has said that the entire 60% of the corpus withdrawn at the time of retirement will now be tax free. Finance Minister......

Top News

View all news

Wipro, Palred Technologies and Zydus Wellness to see some action today

Wipro has launched an Automotive Innovation Center in Detroit, Michigan. This state-of-the-art technology hub will deepen Wipro's relationship with Detroit's automotive community, develop and showcase......

Wipro launches Automotive Innovation Center in Detroit

Wipro has launched an Automotive Innovation Center in Detroit, Michigan. This state-of-the-art technology hub will deepen Wipro's relationship with Detroit's automotive community, develop and showcase......

Zydus Wellness gets CCI's approval for acquisition of Heinz

Zydus Wellness (ZWL) has received approval from the Competition Commission of India (CCI) for the company's acquisition of Heinz India jointly with Cadila Healthcare. The definitive agreement in relation......