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September, 2006 Pragati Maidan, New Delhi, India |
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Pharma exports to grow to $6bn.
India is one of the top five manufacturers of bulk drugs in the world.
Pharma exports are projected to grow to $6bn by 2015from the current level of$2bn, provided the industry maintains the present growth rate.
Pharma companies are now upgrading their manufacturing facilities and adopting good manufacturing practices, besides obtaining international regulatory approvals from institution of repute. This is one of the main factors that will propel Indian drugs export even developed economies.
The global pharmaceuticals market is estimated at $357bn against which India’s share was calculated in the region of $1.5bn. Hence the potential for growth is enormous.
The projected growth for exports would be within the range of $4bn by 2010, which would further grow to $6bn by 2015.
The strength of the Indian industry lie its cost competitiveness, strong manufacturing base, well established network of laboratories with R&D infrastructure, strong marketing distribution network and competence in Chemistry and process development.
Date: 03-May-2005
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