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Tags: National Economy/Finance
Indian pharma exports witnessed a growth of 103% since 2013-14, from Rs 90,415 crore in 2013-14 to Rs 1,83,422 crore in 2021-22.
The exports achieved in 2021-22 is the best ever export performance of the pharma sector.
This is a remarkable increase with exports increasing by about US$ 10 billion in 8 years.
The trade balance remains in India's favour with a surplus of USD 15175.81 million.
India’s Pharma industry
India is the world's third-largest pharmaceutical producer.
Indian pharma companies have made India a global mark with 60% of the world's vaccines and 20% of generic drugs.
The share of the drug in India's global exports is 5.92 percent.
Currently, more than 80% of the antiretroviral drugs used globally to combat AIDS (Acquired Immune Deficiency Syndrome) are supplied by Indian pharmaceutical companies.
It contributes 1.5% to the Indian GDP.
India's top five pharma export destinations are the US, UK, South Africa, Russia and Nigeria.
The pharmaceutical industry in India offers 60,000 generic brands across 60 therapeutic categories.
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