India takes another step towards becoming pharmacy of the world as exports grow by 103% since 2013-14
2 years, 7 months ago

India takes another step towards becoming pharmacy of the world as exports grow by 103% since 2013-14

Firstpost  

India’s top five pharma export destinations are the US, UK, South Africa, Russia and Nigeria. India’s pharma exports in 2021-22 sustained a positive growth despite the global trade disruptions and drop in demand for COVID-related medicines, it added. “Indian pharma companies enabled by their price competitiveness and good quality, have made a global mark, with 60 per cent of the world’s vaccines and 20 per cent of generic medicines coming from India,” the ministry said. “Even in the year 2020-21, Indian drugs and pharmaceuticals had registered a sharp growth amid the COVID despair, achieving an export of $24.4 billion with a YoY growth of 18 per cent,” it said.

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History of this topic

Medical devices maker Poly Medicure to focus on exports amid geopolitical shift
21 hours, 30 minutes ago

Medical devices maker Poly Medicure to focus on exports amid geopolitical shift

Live Mint  

Indian medical equipment manufacturer Poly Medicure Ltd. will continue to focus on export markets amid rising demand in the US and as global economies look to diversify their supply chains away from China, a top company official said. The US president-elect is also talking about this…So I think now it's more of a bolder approach," Poly Medicure's managing director Himanshu …

India’s exports rise, boosting global presence
3 weeks ago

India’s exports rise, boosting global presence

Deccan Chronicle  

New Delhi: India is eyeing to be a global economic powerhouse with its remarkable achievements in the export landscape. “India’s export performance in several key product categories has shown notable success, with the country maintaining or improving its rank among the top 10 global suppliers, all with export values exceeding $1 billion in 2023,” the ministry said. “The petroleum sector …

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct
1 month, 1 week ago

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct

Live Mint  

New Delhi: India's merchandise exports continued their upward trajectory during April-October, with 21 of the top 30 sectors registering growth in value terms, buoyed by rising global demand for Indian goods. Growth in key sectors like pharmaceuticals, electronics, and engineering goods contributed to the overall gains, while a sharp decline was reported in traditionally strong sectors—petroleum and gems and jewellery—amid …

India Witnesses Surge In Defence Exports With Supply To Over 90 Countries: Report
4 months ago

India Witnesses Surge In Defence Exports With Supply To Over 90 Countries: Report

News 18  

India is now selling weapons made in the country to other nations, reaching record levels in defence exports. In 2023-2024, defence exports reached a record Rs 21,083 crore, an increase of 32.5 percent from Rs 15,920 crore in the previous year. The Narendra Modi government set an ambitious target in 2020 to achieve Rs 35,000 crore in defence exports within …

Amid Ukraine war, Netherlands continues to be top destination for India’s petroleum exports
5 months, 3 weeks ago

Amid Ukraine war, Netherlands continues to be top destination for India’s petroleum exports

Live Mint  

New Delhi: The Netherlands, with its developed transit ports, continues to be the top destination for India’s petroleum exports, with shipments to Europe accounting for $4.4 billion during April-May 2024, up from $2.8 billion in the same period of the previous year. India, a key Asian refining hub with an installed capacity of nearly 250 million tonnes per annum across …

Pharma Exports in Two Months Rise 8.8% to $4.73 Billion: Pharmexcil Director General Udaya Bhaskar
5 months, 3 weeks ago

Pharma Exports in Two Months Rise 8.8% to $4.73 Billion: Pharmexcil Director General Udaya Bhaskar

Deccan Chronicle  

15 blockbuster drugs worth $ 112 billion to go off patent by 2029. Will provide a tremendous growth opportunity for Indian pharmaceutical companies by another $ 10 billion. This would provide a tremendous growth opportunity for Indian pharmaceutical companies by another $ 10 billion, said Pharmaceutical Export Promotion Council of India director general R Udaya Bhaskar. Off-patent drugs apart, PLI …

How is India streamlining the pharma sector? | Explained
7 months, 1 week ago

How is India streamlining the pharma sector? | Explained

The Hindu  

The story so far: India’s drug regulator, the Central Drugs Standard Control Organisation, has withdrawn powers delegated to State licensing authorities to issue NOCs for manufacture of unapproved, banned or new drugs for export purposes. This latest announcement covering drugs for export comes at a time when India has been under scrutiny for allegations of supplying substandard drugs causing health …

Goldman Sachs predicts this ‘favourable scenario’ for Indian economy by 2030
7 months, 3 weeks ago

Goldman Sachs predicts this ‘favourable scenario’ for Indian economy by 2030

Hindustan Times  

India's services exports are likely climb to $900 billion- about 12.4 percent of its GDP, by 2030- Goldman Sachs said in what it called a "favourable scenario" of the economy. "India has been gaining share in professional consulting globally, which is relatively less concentrated than other sectors, and India has scope of gaining further share with the rise of GCCs," …

India's exports register healthy growth to European, Latin American nations in 2023
8 months, 2 weeks ago

India's exports register healthy growth to European, Latin American nations in 2023

The Hindu  

Indian exporters made further inroads in European and Latin American nations in 2023, registering healthy growth in countries such as Romania, Montenegro, Austria, and Guatemala, an official said on Friday. India's merchandise export rose 2.1% to the European Union in 2023 despite headwinds being faced by large developed markets like the EU and the U.K. due to high cost of …

India's defence exports at all-time high: Which are the countries buying from New Delhi?
8 months, 3 weeks ago

India's defence exports at all-time high: Which are the countries buying from New Delhi?

Firstpost  

Defence Minister Rajnath Singh announced that India’s arms exports have crossed the Rs 21,000-crore mark for the first time. According to the defence minister, the arms exports touched Rs 21,083 crore in the financial year 2023-24, a “spectacular growth” of 32.5 per cent over the previous fiscal. India’s growing defence exports India supplies arms to over 85 countries, including Italy, …

Nigeria Tightens Regulations on Indian Pharma Exports, New Standards May Spark Industry Concerns
11 months, 1 week ago

Nigeria Tightens Regulations on Indian Pharma Exports, New Standards May Spark Industry Concerns

News 18  

The Nigerian drug regulator has recently heightened its standards for Indian drug makers exporting to the country, News18 has learnt. According to the National Agency for Food and Drug Administration and Control — the health regulator of Nigeria — the quality of Active Pharmaceutical Ingredients used in finished pharmaceutical products manufacturing directly impacts the “safety, efficacy, quality, regulatory compliance, consistency, …

India pharma industry to reach $130 billion by 2030
1 year ago

India pharma industry to reach $130 billion by 2030

The Hindu  

The Indian pharmaceutical industry is expected to reach $130 billion mark by 2030 said a top industry executive at the CPHI & PMEC India expo. This growth is propelled by expanding market opportunities, heightened demand in the USA, and critical shortages of medicines in the U.S. and Europe,” said Dr. Veeramani S.V., Chairman, Pharmaceuticals Export Promotion Council of India. Anil …

Pharma Star: India Steering Global Supply Chain Away from China - News18
1 year ago

Pharma Star: India Steering Global Supply Chain Away from China - News18

News 18  

India’s pharmaceutical industry is at a pivotal juncture. With its well-established prowess in generic drug manufacturing, it has been called on by the world to build a reliable base for the manufacture of raw materials, which offers an opportunity for India to attract the bulk of the pharmaceutical supply chains away from China. “India has started producing 45 APIs after …

Opinion: India could write the next chapter of global pharma triumph
1 year, 3 months ago

Opinion: India could write the next chapter of global pharma triumph

India Today  

India’s G20 presidency has significant implications for the pharmaceutical industry, focussing on improving global health emergency preparedness, fostering industry collaborations, and harnessing digital health potential. India’s pharma industry has established its position as a global hub for drug manufacturing, bolstered by a well-established domestic production infrastructure and a pool of highly-skilled, cost-effective workforce. New avenues for growth Not surprisingly, global …

India’s H1 trade with China declines amid slowdown
1 year, 5 months ago

India’s H1 trade with China declines amid slowdown

The Hindu  

India’s trade with China declined in the first half of 2023 after more than two years of record growth, part of a broader slump in China’s trade performance that has underlined a sharp slowdown in the world’s second-largest economy Two-way trade reached $66.02 billion in the first half, data from China’s General Administration of Customs showed on Thursday. India’s imports …

Indian pharma industry to hit $57 billion by FY25
1 year, 5 months ago

Indian pharma industry to hit $57 billion by FY25

Live Mint  

New Delhi: Domestic pharmaceutical industry will likely hit $57 billion by FY25, along with expansion in operating margins by 100-150 basis points, according to a report by CareEdge Ratings. During FY18 to FY23, the Indian pharmaceutical industry has logged a a compound annual growth rate of 6-8%, primarily driven by an 8% increase in exports and a 6% rise in …

‘Pharma exports expected to touch $28 billion in FY24’
1 year, 6 months ago

‘Pharma exports expected to touch $28 billion in FY24’

The Hindu  

Indian pharma exports may touch $28 billion during the current fiscal against $25.39 billion in FY23, Udaya Bhaskar, Director General of the Pharmaceuticals Export Promotion Council of India, a body under the Department of Commerce said on Tuesday. When most commodities are not doing so well, India pharma made this and achieved this despite so many headwinds and global challenges,” …

Indian Bulk Drugs Industry Poised For Growth: Jayesh
1 year, 6 months ago

Indian Bulk Drugs Industry Poised For Growth: Jayesh

Deccan Chronicle  

HYDERABAD: The bulk drugs industry is at the cusp of an evolution with start-ups and technology players getting into the value chain. Focus should also be on the environment, social issues, and governance as in the days to come the buyer countries will insist on the processes adopted in the manufacturing and packaging of drugs, said principal secretary Jayesh Ranjan. …

India's pharma exports cross $25.3 billion
1 year, 7 months ago

India's pharma exports cross $25.3 billion

Deccan Chronicle  

Hyderabad: India’s pharmaceutical exports have maintained their upward trend, reaching $25.3 billion, roughly Rs 2,08,231 crore, for the financial year 2022-23 despite setbacks. Although the growth rate fluctuated during the year, witnessing growth in eight months and then declining in four months, the industry was nevertheless able to surpass its $24.5 billion record by 3.25%. Despite fluctuating growth rates during …

Goods exports grew 6% , imports 16.5% this fiscal
1 year, 8 months ago

Goods exports grew 6% , imports 16.5% this fiscal

The Hindu  

India’s goods exports declined for the second successive month in March, falling a sharp 13.9% to $38.38 billion while imports dipped 7.9% to $58.11 billion. “Despite the global headwinds, we have surpassed our 2022-23 target of $750 billion dollars to hit $770.18 billion, which is $94 billion higher than last year’s record exports,” Commerce Secretary Sunil Barthwal said, using services …

Drafting a road map to bolster the pharma sector
1 year, 8 months ago

Drafting a road map to bolster the pharma sector

Hindustan Times  

India is known as the pharmacy of the world, and there are several good reasons why it is called so. The country exports pharma products to over 200 countries, and its domestic pharmaceutical industry includes a strong network of 3,000 drug companies and 10,500 manufacturing units. The meeting, attended by representatives from the Union ministry and state governments, had five …

India\'s chemical demand likely to jump to USD 1,000 billion by 2040
1 year, 9 months ago

India\'s chemical demand likely to jump to USD 1,000 billion by 2040

Deccan Chronicle  

New Delhi: India is likely to account for more than a fifth of incremental global consumption for chemicals over the next two decades as domestic demand is projected to rise to USD 1,000 billion by 2040, McKinsey said in a report. In the report titled 'India: The next chemicals manufacturing hub', McKinsey said the country's chemical industry has been a …

Indian pharma industry must focus on innovation, say industry leaders
1 year, 10 months ago

Indian pharma industry must focus on innovation, say industry leaders

Deccan Chronicle  

HYDERABAD: The Indian pharma industry — also known as the world’s pharmacy — needs to focus on innovation to stay relevant, industry leaders opined at the CEO Conclave of BioAsia here on Friday. Hari S. Bhartia, co-chairman and managing director of Jubilant Pharmova, said the Indian pharma industry could get a huge market if it could offer highly innovative drugs …

'Contaminated' Eye Drops: Row in US Blow for Indian Pharma, Brings Bad Name, Says Pharmexcil - News18
1 year, 10 months ago

'Contaminated' Eye Drops: Row in US Blow for Indian Pharma, Brings Bad Name, Says Pharmexcil - News18

News 18  

In the thick of allegations of contaminated eye drops sold in the American market by Chennai-based Global Pharma Healthcare, India’s apex pharmaceuticals export council has sought details from the company on the internal investigation within the next two days, News18.com has learnt. As the news has gained the international spotlight, Pharmexcil has told the company that such an incident brings …

Domestic pharmaceutical market to reach $130 billion by 2030: Economic Survey
1 year, 10 months ago

Domestic pharmaceutical market to reach $130 billion by 2030: Economic Survey

The Hindu  

India's domestic pharmaceutical market is estimated to reach $130 billion by 2030 and the pharma industry has sustained its growth momentum after the pandemic, according to the Economic Survey 2022-23. On the home front, the Survey said, "India's domestic pharmaceutical market is estimated at $41 billion in 2021 and is likely to grow to 65 billion by 2024 and is …

Budget 2023: An Opportunity To Push India's Pharma Industry Development
1 year, 10 months ago

Budget 2023: An Opportunity To Push India's Pharma Industry Development

News 18  

The Union Budget 2023-24 will be presented on February 1 against the backdrop of a global recessionary fear. Several public sector schemes launched in the past few years, including the Pradhan Mantri Ayushman Bharat Health Infrastructure Mission, have focused on building last-mile infrastructure. Outlining the wishlist for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance Secretary General Sudarshan …

India’s imports from China reach record high in 2022, trade deficit surges beyond $100 billion
1 year, 11 months ago

India’s imports from China reach record high in 2022, trade deficit surges beyond $100 billion

The Hindu  

January 13, 2023 11:00 am | Updated 11:54 am IST - Beijing India’s bilateral trade with China reached a record $135.98 billion in 2022, Chinese Customs data showed on January 13, 2023, driven by surging Indian imports of Chinese goods that were up by more than 21% last year. India’s exports to China, however, fell in 2022, driving an already …

What pharmaceutical India has accomplished in 2022: What to expect in 2023?
1 year, 11 months ago

What pharmaceutical India has accomplished in 2022: What to expect in 2023?

Live Mint  

In light of the upcoming New Year celebrations, let's take a quick look at what Pharmaceutical India has accomplished in 2022. India's pharmaceutical industry has transformed from a volume creator to a value provider in 2022. The Indian pharmaceutical industry, however, took it as a challenge and developed vaccines that saved millions of lives. In addition, the Indian pharmaceutical industry …

Pharma exports rise by 4.22% to $14.57 billion during April-October in current fiscal
2 years ago

Pharma exports rise by 4.22% to $14.57 billion during April-October in current fiscal

The Hindu  

Pharmaceutical exports from India registered a growth of 4.22% to reach $14.57 billion during the April-October period despite a negative trend last month, according to a senior official of an export promotion body under Government of India. Udaya Bhaskar, Director General of Pharmaceuticals Export Promotion Council of India which is an organisation under the Ministry of Commerce, said he was …

India@75: Phenomenal journey of the pharma industry
2 years, 1 month ago

India@75: Phenomenal journey of the pharma industry

Hindustan Times  

The Indian pharmaceutical industry has come a long way since the country’s independence. Among private players, Khwaja Abdul Hamied had already set up one of India’s oldest pharma companies, Cipla in 1935; Indravan Modi set up Cadila pharmaceuticals in the early 1950s, Kallam Anji Reddy set up Dr Reddy’s Laboratories in Hyderabad and Bhai Parvinder Singh set up Ranbaxy in …

Focus on innovation, government-industry synergy key for India to become pharmacy of the world
2 years, 3 months ago

Focus on innovation, government-industry synergy key for India to become pharmacy of the world

Firstpost  

The Indian pharma industry is strongly positioned in terms of production capacity and is also committed to growth Indian pharma industry currently ranks third in terms of pharmaceutical production by volume. A multi-pronged approach to innovation The R&D and clinical trials in the Indian pharma industry are traditionally risk-averse as they face several obstacles that may stifle innovation, such as …

Record surge in India’s imports from China in first half of 2022
2 years, 5 months ago

Record surge in India’s imports from China in first half of 2022

The Hindu  

India’s imports from China reached a record $57.51 billion in the first half of the year, according to China’s trade figures released on July 13. Imports of Chinese goods are on track for yet another record year, and set to surpass last year’s $97.5 billion figure. The trade imbalance is also on track for another record, with India’s exports to …

How Trade Pact With UAE Will Boost Presence of Made-in-India Medicines in the Middle East
2 years, 10 months ago

How Trade Pact With UAE Will Boost Presence of Made-in-India Medicines in the Middle East

News 18  

The pact between India and the United Arab Emirates to boost bilateral merchandise trade is likely to expand the presence of Made-in-India medicines in Middle Eastern countries, chief of the central government’s pharma export arm has told News18.com. The reason behind India’s limited entry into the UAE market was its high consumption of patented drugs – innovative and expensive products …

Watch | Why are India’s imports from China rising?
2 years, 10 months ago

Watch | Why are India’s imports from China rising?

The Hindu  

In the wake of COVID-19 and the subsequent disruption to supply chains, many countries, including India, have spoken of the need to reduce reliance on China. India’s trade with China in 2021 reached $125.6 billion. India’s imports from China accounted for $97.5 billion, while exports reached $28.1 billion, both records. India’s biggest imports are: electrical and mechanical machinery a range …

India’s June oil imports hit their lowest in nine months
3 years, 5 months ago

India’s June oil imports hit their lowest in nine months

The Hindu  

India’s crude oil imports in June fell to their lowest in nine months, as refiners curtailed purchases amid higher fuel inventories due to low consumption and renewed COVID-19 lockdowns in the previous two months. The world’s third-biggest oil importer and consumer, India shipped in about 3.9 million barrels per day of crude last month, about 7% down from May, but …

Why is India called the world’s pharmacy? Here are 160 million reasons
3 years, 10 months ago

Why is India called the world’s pharmacy? Here are 160 million reasons

Hindustan Times  

India’s foreign ministry is working on a plan to supply over 160 million doses of Covid-19 vaccines to 60 countries and Unicef by the end of March, people familiar with the matter said on Saturday. The vaccine supplies include about 10 million doses in gifts, which in the first round, focused on India’s extended neighbourhood. According to available figures, India’s …

China still ‘largest source of critical items’ for India
3 years, 10 months ago

China still ‘largest source of critical items’ for India

The Hindu  

China still remains the largest source of critical imports for India, from mobile phone components to pharmaceutical ingredients, and India is working on a multi-pronged strategy to reduce this reliance, which is a bigger concern than the imbalance in trade. When somebody controls your production, that is a sentiment which raises concern.” PLI scheme Mr. Chadha said that India was …

India, ‘pharmacy of the world’, starts exporting COVID vaccines
3 years, 11 months ago

India, ‘pharmacy of the world’, starts exporting COVID vaccines

Al Jazeera  

First shipment sent to Bhutan as ‘supplies under grant assistance’ to be exported to other neighbouring nations. India has started exporting coronavirus vaccines with a shipment to the neighbouring Himalayan kingdom of Bhutan, the Ministry of External Affairs said, as the so-called “pharmacy of the world” looks to bolster its vaccine diplomacy. Many low and middle-income countries are relying on …

India’s exports grew 6% in Sep after 6-month decline
4 years, 2 months ago

India’s exports grew 6% in Sep after 6-month decline

Live Mint  

India’s outbound shipments rose for the first time in seven months with merchandise exports registering a 6% growth in September—higher than the estimated 5.3% in provisional data released earlier. India’s exports rose to $27.6 billion, while imports contracted 19.6% to $30.3 billion, resulting in a trade deficit of $2.7 billion, according to data released by the commerce ministry. In the …

Pharma market reports growth in September
4 years, 2 months ago

Pharma market reports growth in September

Deccan Chronicle  

Chennai: Notwithstanding the higher base, the pharma market grew 4.5 per cent in the month of September. Cardiac drugs grew by 17 per cent, vitamins, minerals and nutrients by 16.3 per cent and anti-diabetic therapy posted growth of 6.5 per cent last month. Meanwhile, Crisil expects pharma exports to grow by 11-12 per cent this fiscal, better than last year’s …

Can India still be ’pharmacy of the world’ while reducing import dependence of APIs?
4 years, 3 months ago

Can India still be ’pharmacy of the world’ while reducing import dependence of APIs?

Live Mint  

New Delhi: After Covid-19 pandemic, India's focus to reduce import dependence of Active Pharmaceutical Ingredients and key starting material for drug manufacturing might just affect the country's position as the 'pharmacy of the world'. However, self-reliance has also been necessitated due to the sharp rise in prices of APIs sourced from China in recent years,” said Gurpreet Sandhu, President, Council …

India Can Become Trusted Partner in Global Supply Chains: Piyush Goyal
4 years, 4 months ago

India Can Become Trusted Partner in Global Supply Chains: Piyush Goyal

News 18  

The world is looking for trusted partners where there is rule of law, transparency in systems, strong judiciary and democratic traditions, and India can become a key player in global supply chains as it provides all of these, Commerce and Industry Minister Piyush Goyal said on Saturday. He said India has to engage with the world with competitive prices, high …

Dev 360 | Medicine and frontiers: The challenge that China poses
4 years, 5 months ago

Dev 360 | Medicine and frontiers: The challenge that China poses

Deccan Chronicle  

Can India challenge Chinese dominance in pharmaceutical ingredients? Chinese pharmaceutical companies supported by their government set up large fermentation units to mass-produce bulk drugs and intermediates and, at the same time also established intermediates and bulk drug facilities for manufacturing by chemical synthesis route,” says a 2014 white paper by the Indian Drug Manufacturers’ Association. “Indian pharma companies who were …

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