New Delhi: Union Minister for Chemicals and Fertilizers, Dr. Mansukh Mandaviya informed that the pharmaceutical ex ports from the country witnessed a growth of 138% from April to October 2022 over the same period in 2013. The total export of pharma products grew to over Rs 90,000 crore from April to October of this fiscal year. It was at Rs 37,988 crore during the same period of 2013.
India ranks 3rd worldwide for production of pharmaceutical products by volume and 14th by value. The current market size of the Indian pharmaceutical industry is around $ 50 billion.
The share of pharmaceutical and drugs in India’s global exports is 5.92%. Formulations and biologicals continue to account for a major share of 73.31% in India’s total exports, followed by Bulk drugs and drug intermediates with exports of $4437.64 million. India’s top 5 pharma export destinations are USA, UK, South Africa, Russia and Nigeria.