New Delhi: The export of pharmaceutical products from India surged by 146% in April to July this year. Union Health Minister Dr. Mansukh Mandaviya informed this.
The total export of pharmaceutical products from India during April to July this year is at Rs 70,596 crore. It was at Rs 20,596 crore during in April to July, 2013-14.
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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.
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