A senior Commerce and industry ministry official said that Indian pharma exports in the current financial year may see a near double-digit growth and might end up on the lines with that of last year.
Indian Pharma exports stood at $16.9 billion in the last financial year, growing at 9.44 per cent with $5.7 billion to United States and $3.3 billion to Africa, as per the statistics supplied by Pharmexcil. The exports stood at $15.4 billion in 2014-15.
Speaking on the sidelines of the BioAsia 2017 event, Sudhangshu Pandey, Secretary General of the Ministry of Commerce, said: "Pharmaceutical exports have outperformed many sectoral exports and we are in double growth.
The growth was also good, it is about 8 percent, so I see that despite the contraction and the overall slowdown, pharmaceutical exports are relatively better, I do not think that (double-digit growth) would be possible. "
Mr Pandey added: “We should be some way between 8 to 10 per cent. That is what is the anticipation?
When asked about the possible impact of Brexit, Mr Pandey said that the effects have stabalised for now in regards to exports in Britain or Europe.
