Pharma exports may reach $25 bn by FY15
The pharma exports may touch $25 billion by the financial year 2014-15.India enjoys presence among one of the key five generic drugs exporters. It also maintains positive trade balance and successfully meets more than 90% of India’s needs, stated Rajeev Kher, additional secretary, Department of Commerce, Ministry of Commerce and Industry.India’s pharma sector is growing at 17% during the last four years and has reached $17 billion till October 2012.
Kher added, “Indian pharma exports are headed for a very healthy growth in generic and API exports and efforts are on to improve the foothold of traditional medicine exports. Pharma exports by the end of 2014-15 are expected to reach $ 25 billion. The Indian pharma industry is also covering a lot of ground in bio pharmaceuticals at a rapid pace.”