Exports and imports

Pharmaceutical

India is one of the fastest-growing pharmaceutical markets in the world and has established itself as a global manufacturing and research hub. A large raw material base and the availability of a skilled workforce gives the industry a definite competitive advantage.

Highlights

  • The Indian pharmaceutical industry was estimated to be worth US$ 23 billion in 2010-11 and is expected to touch US$ 55 billion by 2016-17
  • Globally, India ranks third in terms of volume of production and fourteenth largest by value
  • The domestic market is likely to grow from US$ 13 billion in 2010-2011 to US$ 25 billion by 2016-17
  • The domestic pharma sector is witnessing strong growth due to higher penetration in tier-II and tier-III cities and greater focus on the largely- untapped rural market

Key Markets and Exports

  • India exports to more than 200 countries; its share of exports is expected to grow manifold
  • Pharmaceutical exports grew from US$ 8.6 billion in 2008-09 to US$ 14.5 billion in 2012-13, at a rate of 13.8 per cent
  • The US is India’s largest importer. The exports to the US grew at a rate of around 24 per cent between 2006-07 and 2010-11
  • The export of bulk drugs continue to grow to regulated markets and is supported by India’s existing foothold in semi-regulated market