Drugs and Pharmaceutical exports from India are likely to touch a record US $ 6.26 billion (more than Rs.28,000 crore) mark during the 2006-07 period, registering a growth rate of about 30 percent over the previous year, the Pharmaceutical Export Promotion Council (Pharmexcil) has predicted.
Drugs and pharmaceutical exports from India had touched an all time high of products valued Rs 21578.96 crore during the period from April to March 2006, surpassing the projection of Rs.21,000 crore during the 2005-06 period.
During the April to July period of 2006-07, the exports are up by about US $ 1.77 billion in comparison to the previous year period, D B Modi, chairman, Pharmexcil informed. He said drug exports from the country are likely to consistently maintain a growth rate of 25-30 per cent in the coming years. By this, exports during the 2007-08 period is predicted to be about US$ 8.14 billion and US$ 10.58 billion during the 2008-09 period, followed by about US$ 13.76 billion during the 2009-10. Drugs and pharmaceutical exports during the 2004-05 period were to the tune of US$ 3.98 billion, US$ 3.27 (2003-04), US$ 2.65 billion (2002-03), US$ 2.18 billion (2001-02) and US $ 1.94 billion in 2000-01.
US, Germany, Russia and UK are the main four drug exporting destinations for Indian pharma companies. India exports drugs to more than 25 countries with country wise turnover of more than Rs.100 crore. Drug exports to countries like Turkey, China, Israel Singapore and South Africa registered significant growth during last year.
He said Pharmexcil has entered into a Memorandum of Understanding (MoU) with CMPi, organizers of CPhI Worldwide, CPhI Japan, CPhI China and CPhI India, to have a preferential treatment for Pharmexcil members. The MoU will help the council members members to avail stalls at discounted rates. The Pharmexcil pavilion at the recently concluded CPhI Mumbai had more than 30 member companies, mainly from the small and medium scale. Numerous other member companies had taken individual stalls at CPhI. He said participation in such events would help to boost drug exports from the country.