Indian pharma exports touch record $24.44 bn in pandemic year; see 18.07% growth
North America is the largest exporting region for India with more than 34 per cent share. Country wise exports to USA, Canada and Mexico recorded growth of 12.6 per cent, 30 per cent and 21.4 per cent respectively
Joe C Mathew | April 17, 2021 | Updated 16:18 IST
Pharma exports see 18.07% growth
Indian pharmaceutical exports have registered a record growth in the pandemic year (2020-21), bucking the global trend of 1-2 per cent negative growth in 2020.
As per the quick estimates of the Department of Commerce, drugs and pharmaceutical exports for the FY-21 (Apr 2020 - Mar 2021) touched $24.44 billion, a record growth of 18.07 per cent. Exports during FY 2020 was $20.58 billion with growth rate of 7.57 per cent.
Indian pharma exports grow at 18 percent to 24.44 bn in FY 21
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Synopsis We have observed a big leap in our exports in the month of March 2021 which is USD 2.3 billion (figures for March are provisional) and is highest among the exports of all the months of this financial year, the growth rate for this month is 48.5 per cent against the exports in March 2020 (USD 1.54 billion), Udaya Bhaskar, Director General of Pharmexcil said in a release.
AP
North America is the largest exporting region for Indian pharmaceuticals with more than 34 per cent share.
India has reported a growth of 18.07% in pharmaceutical exports that touched an all-time high of $24.44 billion during the fiscal ended March 2021, up from $20.58 billion in the previous fiscal.
If Monday s macro economic data showed a revival in the economy, Tuesday came out with data that revealed uncertainty in the external world. After rising for three consecutive months, exports dipped by 0.25 per cent in February as demand remained lacklustre overseas.
However, exporters also attributed decline in exports to container shortages and supply disruptions due to increasing Covid cases in some states back home.
According to preliminary trade data released by the commerce department here, exports stood at $27.4 billion in February this year against $27.67 billion in the same month last year. The decline in exports was also to do with a high base of last year as almost the same level of exports in January had shown 6.16 per cent growth.