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Indian pharmaceutical exports are likely to post 25 per cent growth during this financial year to touch $17 billion.
“The increase will be driven by growth in formulations and active pharmaceutical ingredients,’’ P.V. Appaji, Director-General, Pharmaceuticals Export Promotion Council (Pharmexcil), told newspersons here on Wednesday.
In the last financial year ended March 31, 2012, pharma exports stood at $13.4 billion.
There would be significant growth in exports to the US which also accounted for 33 per cent total exports last year, he said.
In the API segment, India might stand to gain due to the increased focus in Europe to streamline procedures and ensure quality.
“As most units are already recognised by global regulators, we will have an additional advantage compared to other countries,’’ he said.
In the vaccines segment, however, China was emerging as a strong competitor to India with higher production, Appaji added.
EXPO
To highlight the strengths of Indian pharmaceutical players and bring better focus on small and medium units, Pharmexcil will be organising a global expo – iPHEX 2013 – during April 24-26, 2013.
“This will be the first global show to be organised by Pharmexcil though we have been participating in many domestic and global industry events,’’ Appaji, said.
About 500 representatives from global pharma companies and regulators are expected to participate in the event.
Going forward, the council would also increase its focus on biotech products and biosimilars, he added.
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