Pharma exports have touched Rs 1,83,422 crores in 2021-22 against Rs 90,415 crores in 2013-14, the commerce ministry said yesterday.
The exports in 2021-22 sustained a positive growth despite the global trade disruptions and drop in demand for COVID-related medicines, it added.
Formulations and biologicals continue to account for a major share of 73.31 per cent of the country’s total exports, followed by bulk drugs and Drug Intermediates (DIs), according to the ministry.
India’s top five pharma export destinations are the US, UK, South Africa, Russia and Nigeria.
“Even in the year, 2020-21, Indian drugs and pharmaceuticals had registered a sharp growth amid the COVID-19 despair, achieving an export of $24.4 billion with a YoY growth of 18 per cent,” it said.
Edits by EP News Bureau