The exports of pharmaceutical products from India has increased more than 12 per cent in February touching Rs 3,269.32 crore as against Rs 2,916.99 crore in January 2009.
India's total exports went up to Rs 35,402 crore by the end of February 2009, from Rs 31,607.84 crore reported in April 2008 - January 2009, as per an analysis of Pharmaceutical Exports Promotion Council (Pharmexcil).
Analysis based on the exports data from the Directorate General of Commercial Intelligence & Statistics (DGCI&S) and Centre for Monitoring Indian Economy (CMIE), shows that the exports business has increased considerably in February.
The latest figures show a slight upturn from the low performance in pharma exports reported in January. The monthly export figures has reduced to Rs 2916.99 crore in January 2009 from Rs 4934.43 crore-business recorded in December 2008. The growth of 12 per cent in February to Rs 3269.32 crore from the January exports, as mentioned, shows a positive trend in the exports market, according to industry sources.
The exports of pharmaceutical products during Jan-Feb of 2009 moved up by 11 per cent to US$ 663.69 million from US$ 597.90 million in January 2009. The exports have grown by 36.7 per cent Rs 3269.32 crore in the month of February, 2009 compared with Rs 2,391.90 crore in the corresponding period of last year. The growth, when calculated in US Dollar terms, stands at 10.2 per cent recording exports of US$ 663.69 million as against US$ 602.04 million in the same period of previous fiscal.
The Indian pharma exports has taken a quantum jump of 34.4 per cent to Rs 35,402.46 crore in the period April 2008 - February 2009 when compared to the Rs 26,341.76 crore in the same period of previous fiscal. The figures, in US Dollar terms, has touched US$ 7.79billion compared with US$ 6.55 billion during the same period growing at 18.93 per cent.
During April 2008 - February 2009, exports to Austria (ranking 57th in 2007-08) have grown substantially by Rs 1,307 crore over previous financial year. At present, Austria occupies second top position for the period April-February 2008-09. The other four top destinations showing highest value increases include USA (Rs 1,281 crore), South Africa (Rs 415 crore), Nigeria (Rs 338 crore), Canada and (Rs 326 crore). However, exports to Singapore (decline by Rs 34 crore), Japan (decline by Rs 22 crore), Taiwan (decline by Rs 20 crore) have shown decline during the period under consideration.
Pharmexcil issues analysis reports on performance of Indian pharma exports to a large number of countries in each month, collecting data from DGCI&S and CMIE, thus to give the latest information on the topic to its members.