Leaders of the Pharmaceuticals Export Promotion Council of India (Pharmexcil) on Thursday exuded the confidence that pharmaceutical exports from the country would continue to maintain the trajectory of over 10 per cent growth.
The strengths of the industry had been its ability to embrace technology and adhere to high quality standards, leaders led by Chairman M. Madan Mohan Reddy said here on Thursday. On the eve of the annual general meeting of the Council, they felt that the growth of pharma exports would be in the 10-12 per cent range in the current fiscal. The exports last fiscal were $16.89 billion. According to a release, generics (drug formulations) was the third largest among the principal commodities exported by India during 2015-16. Pharmaceuticals as a whole, inclusive of other components like bulk drugs, ayush and herbals and surgicals under the purview of Pharmexcil, contributed 6.44 per cent of the total exports of the country during last fiscal.
Besides Mr. Reddy, vice-chairman Dinesh Dua and Director General P V Appaji highlighted the various initiatives of the Council, including the three-day India Afro Pharma Business Meet.
Some of the overseas delegates were interested in contract manufacturing, the release said. Pharmexcil also organised the Pharma CEOs Conclave with ‘Public-Private Partnerships in Pharmaceutical Manufacturing - Strategies for Improving Access to Medicines Globally’ as its theme. Awards for 2015-16 recognising export performance and for patents were also presented at a function.
