India's pharma exports grow by 103 pct since 2013-14

By Trend

India's federal ministry of commerce and industry said on Sunday pharma exports grew by 103 percent since 2013-14, Trend reports citing Xinhua.

"Indian pharma exports witnessed a growth of 103 percent since 2013-14, from INR 90,415 Crores (11.8 billion U.S. dollars) in 2013-14 to INR 183,422 Crores (23.9 billion dollars) in 2021-22," a statement issued by the ministry said.

"The exports achieved in 2021-22 is the pharma sector's best export performance ever. It is a remarkable growth with exports growing by almost 10 billion U.S. dollars in eight years," it said.

According to the ministry, the pharma exports in 2021-22 sustained a positive growth despite the global trade disruptions and drop in demand for COVID-19 related medicines.

The share of pharmaceuticals and drugs in India's global exports is 5.92 percent.

India's top five pharma export destinations are the United States, Britain, South Africa, Russia and Nigeria.