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Pharma exports report 4.58% growth in April-June 2021

Gireesh Babu, New Delhi
Saturday, July 17, 2021, 08:00 Hrs  [IST]

The exports of drugs and pharmaceuticals from India reported a 4.58 per cent growth for the three months ended June, 2021, at $5.78 billion compared to $5.53 billion during the same period last year. For the month of June, the growth was marginal at 0.02 per cent to $2.02 billion compared to the corresponding month last year.

Imports for the quarter grew 73.96 per cent to $2.72 billion compared to $1.56 billion during the same period last year. For the month of June, imports grew 130.84 per cent to $1.24 billion compared to $536 million during the same month last year. The ministry says that the figures for June 2021, are provisional.

In Rupee terms, for the three months ended June, 2021, exports of drugs and pharmaceuticals grew 1.71 per cent to Rs. 42,632.41 crore compared to Rs. 41,914.87 crore. However, there was a decline of 2.84 per cent in exports for the month of June, 2021, at Rs. 14,848.86 crore as against Rs. 15,283.29 crore in June, last year.

According to the quick estimates for merchandise trade released by the ministry of commerce and industry, the imports of medicinal and pharmaceutical products has jumped 124 per cent in Rupee terms to Rs. 9,106 crore in June, 2021, compared to Rs. 4,061.17 crore during the same month last year. The growth for the three months from April to June, 2021, was 69.04 per cent to Rs. 20,013.71 crore as against Rs. 11,839.54 crore for the same period last year.

According to industry sources, the pharma industry in the country has seen an improvement in growth during the second wave of Covid-19 compared to the previous year when the growth was curtailed by the shortage of raw materials and trade restrictions.

The country exported $24.44 billion of medicines during the financial year 2020-21. Earlier reports quoting Pharmaceutical Export Promotion Council of India (Pharmexcil) said that this was an 18 per cent growth compared to the $20.58 billion reported during the fiscal year 2019-20.

When the global pharma market decreased by 1-2 per cent in 2020, the industry posted its best export performance in value terms due to an increase in demand for Indian drugs, reports quoting Pharmexcil Director General Ravi Udaya Bhaskar, added.

For 2020-21, North America was the largest exporting region for Indian pharmaceuticals with more than 34 per cent share. Exports to USA, Canada and Mexico have recorded growth of 12.6 per cent, 30 per cent and 21.4 per cent respectively.

Export to Africa relatively went up with 13.4 per cent during FY21, as against previous year’s growth of 2.24 per cent. South Africa being the second largest exporting country, recorded a big jump of 28 per cent growth. Nigeria, Kenya, Tanzania are the other major destinations in Africa. Europe stood the third largest exporting region which has recorded approximately 11 per cent growth.

 

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